Oando Plc announces a partnership with the Lagos State Government to introduce 5,000 electric buses into the state’s public transportation system. Group CEO Wale Tinubu confirms that this initiative supports Oando’s commitment to sustainable energy solutions. He highlights the importance of transitioning to cleaner energy while addressing Africa’s energy poverty.
Tinubu emphasizes the need for a “just energy transition” in Africa, arguing that the continent, which contributes only about 3% of global emissions, faces the worst effects of climate change. He advocates using Africa’s natural gas resources as a transitional fuel while expanding access to energy for millions living in energy poverty.
The deployment of electric buses in Lagos aims to tackle transportation-related emissions, which contribute 10% of global greenhouse gases. Tinubu explains that transitioning Nigeria’s public transportation system to electric vehicles could cut emissions by 5% while providing a cleaner, more efficient mode of transport.
Oando is also preparing to integrate artificial intelligence into its drilling operations to optimize decision-making and reduce costs. Tinubu highlights the potential of AI to streamline processes by analyzing extensive data for efficient solutions.
Oando has recently achieved key milestones, including acquiring Nigerian Agip Oil Company (NAOC) and securing operatorship of Block KON 13 in Angola’s Kwanza Basin. These moves significantly expand the company’s oil and gas reserves while reinforcing its role in Africa’s energy sector.
This partnership and innovation showcase Oando’s commitment to balancing environmental sustainability with Africa’s energy needs.