For some days now, the news in town is that Wale Tinubu’s led Oando Plc. has sacked 50% of his workers. In our traditional of hearing all sides of a story, we put a phone call to Alero Balogun, Corporate Communications Manager of the company and this is her reaction;

“Following our tele-conversation earlier today this is to reiterate that the claim that Oando is sacking 50% of its staff is untrue.

We are Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange with a valued workforce of over 1,500 people.

A subsidiary of the business recently disengaged employees representing less than 2% of the Group’s entire workforce.

As you are well aware the oil and gas industry has witnessed a downturn affecting all companies operating within the sector. In line with this we must proactively manage our cost base whilst seeking to achieve value for our shareholders.

Please be guided accordingly and ensure that any publication that you put out is factual.

In the event that you have any more questions please don’t hesitate to call or email me”.