Why Everyone Wants to Be Like Wale Tinubu

It’s no surprise that many wish they were in Wale Tinubu’s shoes right now. With Oando Plc’s value skyrocketing to over N1 trillion, it’s hard not to feel a bit envious. While his uncle, President Bola Tinubu, may have allegedly implemented policies that helped, apolitical commentators would say that there’s more to Wale’s success than meets the eye.

Before his uncle assumed power, Wale’s Oando was a struggling player in Nigeria’s oil and gas sector. The company had posted a loss in 2022, and its market value hovered around N74 billion. But by the end of 2023, Oando’s fortunes had changed dramatically. It started to turn a profit and show signs of major growth.

But this turnaround may not be solely due to familial ties. Wale has always been known for his sharp business instincts, even before his uncle became president. His strategic moves, including the recent $783 million purchase of Agip Oil, demonstrate that he knows how to seize opportunities.

However, there’s no denying the role the current administration’s policies played in Oando’s surge. Fuel subsidy removal and currency devaluation hurt many businesses but gave Oando a new lease on life, although, perhaps, unintentionally. While others faltered, Wale navigated these economic changes with remarkable agility and thus positioned Oando for unprecedented growth.

Some argue that the president’s influence gave Wale a head start. And indeed, a few deals, like the acquisition of Agip, have fueled speculation. But as they say, “Even if the wind helps a sail, it takes a skilled captain to steer the ship.”

Today, Wale’s Oando ranks among the top 10 most-capitalised companies on the Nigerian Stock Exchange. Whether it’s luck or skill, Wale has certainly taken full advantage of the current economic landscape. His story shows that while connections can open doors, it takes a sharp mind to keep those doors open.