UPDATE: Petrol Depot Gutted by Fire in Lagos not Owned by Oando

Business Elites Africa (BEA) has been reliably informed that the tank farm that exploded in the Apapa area of Lagos on Thursday, Oct. 5, is no longer owned by Oando Plc.

The petrol depot is owned by OVH Energy, Oando’s former subsidiary. An inside source at Oando told BEA that the company has divested its interest in OVH.

“It’s owned by OVH, one of Oando’s former subsidiaries. But Oando Plc is completely divested from it”, the source told us when asked about the fire incident.

BEA had reported that Oando tank farm was gutted by fire on Thursday afternoon. It took firefighters hours to put out the inferno, which was after extensive damage had been done to the facility.

OVH also confirmed the fire breakout in a statement released on Twitter. The company affirmed that no casualty was recorded in the incident.