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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

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