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Oando Commissions New Office Space: The Wings Office Complex
Oando PLC
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
(“the Company”)
Oando Commissions New Office Space: The Wings Office Complex
Oando PLC (referred to as “Oando” or the “Company”), Nigeria's leading indigenous energy
group listed on both the Nigerian and Johannesburg Stock Exchange, officially commissioned
its new office building, the "Wings Office Complex" yesterday, 3 April 2018. The building located
at 17a Ozumba Mbadiwe Avenue, Victoria Island, Lagos was commissioned by the Minister of
State for Petroleum Resources, Hon. Dr. Emmanuel Ibe Kachikwu.
Commenting on the commissioning Wale Tinubu, Group Chief Executive, Oando PLC said: “At
Oando, passion is not only one of our core values, it drives our ambitions. The idea for the
Wings Office Complex was conceived in 2009 and the build kick-started in 2013. At the time it
seemed a lofty dream; both in terms of size and the type of structure we envisaged. We
commenced the construction of Wings at a time when the price of oil was around $100; despite
the 2014 crash in oil prices to $23 per barrel, the 60% devaluation of the naira and a13-month
long economic recession, we pushed on. Today the two towers stand tall as a testament to
indigenous companies like ourselves who continue to lead and set the standard for excellence.
The project signifies the end to a series of capital projects that we have pioneered, invested in
and built.”
The Minister of State for Petroleum, Ibe Kachickwu who commissioned the building commended
the Company and said: “Oando has shown uniqueness as a Nigerian oil company showing
support to the Government and the Nigerian populace. The building has been developed using
water, sand, cement, bricks, steel, concrete, wood and glass, all are elements attributable to
transparency and strength. The future is very demanding, I urge you to continue to inspire and
be creative in the solutions that you proffer in your sector and for the nation.”
The Wings Office Complex consists of two 12-story buildings – 27,000m2 of lettable office
space, an in-built 3-floor car park, 4 high-speed 12 person passenger lifts per tower, retail space
and a waterfront. The building was constructed by Cappa D'Alberto, one of the oldest building
and civil engineering firms in Nigeria and the name behind notable buildings such as The Civic
Centre, GT Bank Head Office, Mobil House and Citibank Head Office.
The building offers a world-class indoor event space, a one-of-a-kind space that can hold up to
300 people, with floor to ceiling windows which provide a scenic view of the waterfront and
allows maximum natural daylight. Wings also has an outdoor waterfront area with a hosting
capacity of 200 people and overlooks Lagos State's waterway.
Commenting further, Funso Akere, CEO, Stanbic IBTC Capital representing the CEO for
Stanbic IBTC said: “Stanbic IBTC Bank PLC together with Standard Bank of South Africa is
proud to have supported the completion of this landmark real estate project in Nigeria, which will
catalyze the development of similar ground-breaking real estate projects and serve as a
benchmark for investment grade office buildings in Nigeria. It will also enhance the economic
landscape and support the creation of world class business infrastructural development drive of
the Lagos State Government. We take this opportunity to commend the management and staff
of Oando and the entire project team who worked tirelessly in driving the successful completion
of this project. We look forward to additional opportunities to partner with the sponsors in
developing other iconic projects.”
The Company followed the international and more progressive model for office buildings by
incorporating space for amenities such as restaurants and retail outlets. It is also one of a few
prime locations in Lagos with waterway accessibility giving its inhabitants and guests a fuller
experience during their time on the premises.
Wings is a smart and energy efficient building that regulates its internal temperate to acclimatize
with the outdoor temperature. It also uses energy efficient and smart lighting systems with
occupancy and daylight sensors to make sure office lights are only on as they are needed;
specifically when occupants are in a room and sunlight is diminishing. The deliberate use of
floor to ceiling windows in the 4 corners of the building ensures that 100% of occupants are
always within 12 meters of natural light.
Other building features include:
1. Filtered fresh air supply at a minimum rate of 8 litres per person/second
2. 24 hour power
3. External cladding designed to limit direct solar gain
4. Noise minimizing building acoustics
5. Central cooling
6. Panoramic views of Lagos from every floor
In addition to being office space to leading brands such as Ericsson and RMB Bank, the Wings
Office Complex is now home to Oando employees. It was built with the intention of
accommodating all the Company's Lagos based staff and act as our new Head Office, enabling
us finally relinquish leased space in Lagos.
For further information, please contact:
Ayotola Jagun
Chief Compliance Officer & Company Secretary
ajagun@oandoplc.com
Alero Balogun
Head, Corporate Communications
albalogun@oandoplc.com
For: Oando PLC
Ayotola Jagun
Chief Compliance Officer & Company Secretary
The Wings Complex, 17a Ozumba Mbadiwe Avenue
Victoria Island Lagos, Nigeria
Lagos, April 5, 2018
Sponsor: Sasfin Capital ( a member of the Sasfin group)
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