Nigeria’s Oando Plc, owned by President Bola Ahmed Tinubu’s nephew, Wale Tinubu, has been shortlisted to acquire Trinidad and Tobago’s state-owned refinery, Petrotrin.
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Trinidadian Finance Minister Colm Imbert announced that Oando, along with CRO Consortium and INCA Energy, made the final cut from 10 initial proposals.
The bidding process began in February 2024, with the government seeking expressions of interest. Proposals were evaluated based on five criteria, including a clear restart plan and timeline.
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This development comes as Nigeria’s state-owned refineries in Portharcourt, Warri, and Kaduna remain inactive. Nigeria imports petroleum products from Trinidad and Tobago.
Key points:
- Oando Plc shortlisted to acquire Petrotrin refinery
- Three companies made the final cut
- Bidding process began in February 2024
- Nigeria’s state-owned refineries remain inactive
