Skip to main content

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...
Post a Comment

Hopes, as Fed Govt plans to pay N247b tartifs shortfall soon


By Akinola Ajibade

Hopes are in the horizon for electricity consumers, as the Federal Government has promised to pay the tarifs shortfall of N247billoon by December, this year.

The shortfall in the Nigerian Electricity Supply Industry (NESI) came, following the recent  hike in tarifs by the government. 

A senior official of the Power Sector Recovery Programme( DSRP)/Engr Belije Nadu, disclosed this during a one-way workshop for the media, recently. The Nigerian Electricity Regulatory Commission ( NERC) organised the workshop in conjunction with the Nigerian Electricity Supply Programmes(NESP) secretariat.

He noted that efforts have been made since 2005 to endure incremental recovery and growth of the country's power sector, adding that the development was delayed by inability of the government,  to put in place a concrete financing modek in the industry.

According to him, the long years of experimention in the sector is over, due to the fact that the regulator was able to identify the process of paying the shortfall accureed from the implementation of s new tarrif regime 

“PSRP Financing Plan approved (November 2021): A credible Financing Plan for the PSRP Programme that identifies how tariff shortfalls will be paid and promotes sustainable growth of the Nigerian Electricity Supply Industry, was approved.

Adding that: “Tariff shortfall payment has been cut down from a historical accumulation of  N891billion to N247 billion in 2021, and programme is on course for elimination by December 2022″ 

Madu further said that a Disco Performance Improvement Plans was approved and it  became effective July 1st,2021.

The DisCos Performance   improvement Plans tensure that DisCos Implement service improvements programmes with measurable indicators, to track quality of service improvements and monitored by NERC, 

Similarly,, the Chairman, Nigerian Electricity Regulatory Commission ( NERC) Engr. Sanusi Garba, said that the Federal Government is committed to ensuring an efficient electric power supply industry that will guarantee Nigerians adequate, reliable and affordable electricity.

He said:The Federal Government initiated the PSRP with the support of the World Bank to achieve the goal of Nigerians having access to adequate, reliable and affordable electricity in the country, 




Comments

Post a Comment

Popular posts from this blog

ICPC Will Not Hesitate to Deal Oil Racketeers

By Favour & Akinola Ajibade Oil racketeers will henceforth face prosecution and subsequently sentenced to prison, in the event that the decision of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) stands by its decision to completely eradicate such activities in the country.  This happens as ICPC  secured a seven year conviction for  two fraudsters, Aso Adasa Morrison and Frank Biobarakuma recently.  The body in a statement signed by its spokesperson, Mrs. Azuka Ogugua and made available to the media, said the two suspects were first arraigned sometime in March 2013 before Hon. Justice B. A. Georgewill of Rivers State High Court 16 on a 17-count charge bordering on conspiracy, forgery and obtaining false pretence regarding transactions in crude oil in Nigeria  She said the court was informed of how the convicts and others at large between the month of March 2012 and February 2013 in Port Harcourt, fraudulently obtain...
Post a Comment
Read more

SHELL PHOTOSTORY-2 ( LAKOWE GOLF COURSE, LAGOS

L-R: General Manager, Safety and Environment, Shell Nigeria, Elozino Olaniyan; Vice President Midstream, Henry Bristol; former Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Chike Onyejekwe; SNEPCo Managing Director, Elohor Aiboni and Shell Nigeria Vice President, Human Resources, Olukayode Ogunleye, at the Golf Kitty retreat organised for serving and retired leaders of Shell Nigeria at the Lakowe Golf Course, Lagos… recently. A cross section of serving and retired leaders of Shell Nigeria at the Shell Nigeria Golf Kitty Retreat held at Lakowe Golf Course, Lagos… recently.    
Post a Comment
Read more

IGP to Nigerians: Deface new notes and face prosecution

IGP Baba New naira notes  By Akinola Ajibade Nigerians, who are selling and defacing new naira notes of N200,500 and N1000 are facing arrest and prosecution soon unless they change from their criminal activities,  the Inspector-General of Police, IGP Usman Alkali Baba has said   Baba yesterday ordered the Deputy Inspector-General of Police in charge of the Force Criminal Investigations Department and the Assistant Inspector-General of Police in charge of the Force Intelligence Bureau, to commence arrest and prosecution of individuals, who was found selling and abusing the  naira notes issued by the Central Bank of Nigeria.  The order, which was conveyed in a statement signed by the Force Spokesperson, CSP Olumuyiwa Adejobi, quoted the police boss as imploring them to place officers and men of the Department and the Bureau across the nation on high alert. He further charged all supervisory Assistant Inspectors-General of Police and Co...
5 comments
Read more