Oando Plc has significantly reduced its pre-tax loss for the first half of 2026, cutting the deficit by 77% compared to the same period last year.
The improvement was underpinned by a return to profitability in the second quarter, marking a notable turnaround for the Nigerian energy group after a challenging start to the year.
76 billion. That annual high, however, masked underlying balance sheet vulnerabilities and liquidity concerns that have kept investors cautious.
The results signal a stabilization in Oando's operations, as the company navigates persistent cost pressures and margin constraints that have weighed on the sector.
While the first half still ended in a pre-tax loss, the sharp contraction indicates that operational adjustments and market conditions are beginning to support the bottom line.
This development follows Oando's record-breaking fiscal year 2025, in which the company reported a pre-tax profit of N135.76 billion.
That annual high, however, masked underlying balance sheet vulnerabilities and liquidity concerns that have kept investors cautious.