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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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'Govt will generate N90.49b from phone calls soon'


By Akinola Ajibade

A new tax directives on telephone calls made in Nigeria is underway, the News Mirror has learnt.

The directives, when imposed on  Nigerias  by the Federal Government, would take fake in N90.49 billion to the coffers of the state annually in order to take care of the health of the vulnerables. 

Known as telecom tax, the idea would enable the government to generate equivalent of a minimum  of one kobo per second on phone calls, which would serve as sources of finds required to finance free healthcare for the vulnerable group in Nigeria.

According to the Health Insurance Scheme (NIS), the Vulnerable Group Fund is money budgeted to pay for healthcare services for Nigerians, whom by virtue of their ailments are unable to pay for health insurance, which would help reduce the cost of provision of healthcare services to them in the country.

It added that the Vulnerable Group Fund will subsidise the provision of healthcare to children under five, pregnant women, the aged, physically and mentally challenged, and the indigent as may be defined from time to time.

The Act includes a provision under Section 26 subsection 1c which states that one of the sources of money for the Vulnerable Group Fund shall include a telecommunications tax, not less than one kobo per second of GSM calls.

Other sources of funding outlined in the Act includes a basic healthcare provision fund to the authority; health insurance levy; telecommunications tax, not less than one kobo per second of GSM calls; money that may be allocated to the Vulnerable Group Fund by the government; motley that accrues to the Vulnerable Group Fund from investments made by the Council: and grants, donations, gifts, and any other voluntary contributions made to the Vulnerable Group Fund.

The new Act said,every resident in Nigeria is expected to obtain health insurance.

The President of the association, Adeolu Ogunbanjo, said, picked holes in the new moves by the government to slam tax on Nigerians.

“It is quite unfortunate that the government is viewing telecoms as a cash cow. We are saying. There is a lot of corruption in the system, and rather than curb that they want to focus on the telecoms sector.

“What do they mean by vulnerable? Vulnerable people in the nation are probably about 80 per cent of the population, we are all vulnerable. What has happened to the health budget? Why should it touch telecoms again? The government should look elsewhere for money. This new action is only likely to impoverish more Nigerians and they are masquerading as helping the vulnerable. This is not right.”



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