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Oando Acquires Oil Block In Angola

Oando Plc  Favour Ifeoluwa & Akinola Ajibade  Oando Plc  says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc,  Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
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FEC approves 1.4b for transmission equipment


Minister of power, Abubakar Aliyu

By Akinola Ajibade

The Federal Government has  approved N1.4 billion for the supply of more equipment for the Transmission Company of Nigeria (TCN) to boost electricity supply across the country.

This follows the collapse of the national grid, which threw the country into darkness for the fourth time in recent times 

News Mirror reports that the development came  four days after the April 9 collapse of the electricity transmission system also known as national grid, operated by the TCN. the collapse was the third time in 24 days, and the fourth collapse in the year 2022.

The Minister of Power, Mr. Abubakar Aliyu, made the approval known when he briefed State House Correspondents on the outcome of the meeting of the Federal Executive Council ( FEC,) presided by President Muhammadu Buhari on Wednesday in Abuja.

He said: “I presented two memos from the ministry of power for the Transmission Company of Nigeria.

“The first one was a variation of the sum of a contract for 132/33 KV substation at Kafanchan, Kaduna State, with a KV line base extension at Jos substation, in Plateau State. This is in the sum of N132, 705, 861.42.”

The minister said the second approval he got was for the supply of handling equipment and operational vehicles also for the Transmission Company of Nigeria at the cost of N1.3 billion.

“The second memo was for the supply of handling equipment, haulage, and operational vehicles for the TCN at N1,338,159,080.88.

“They are heavy lifting equipment that the TCN requires for doing its work in the store and on the field while changing equipment and moving transformers.

“The council graciously approved,” he said.

The Minister of Science and Technology, Dr Ogbonnaya Onu, announced that the council approved some fees for seeds production in the country.

According to him, the council approved N400,000 per variety for private seed companies and N100,000 per variety for research institutions.

The Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that the council approved an augmentation of N317.7 million for Pategi Water Supply project phase 11 in Kwara.

He said the project was initially awarded in 2018 by the Buhari administration at the cost of N3.2 billion with a completion period of 74 months. 

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