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

REA,/ state governments plans to boost rural electricity


By Akinola Ajibade

Brighter days are ahead of thousand of communities acros the country, as the Rural Eradication Agency ( RAE)[ and the thirty state governor are collaborating on how to boost supply of electricity in the country, the Managing Director/Chief Executive officer ,Ahmad Salihijo Ahmad gave this indication recently 

He spoke during  a  workshop organised by REA in conjunction with the African Clean Energy Technical Assitance Facility (;AGETAF);and the Nigeria Governors Forum in Abuja .

He said that the collaboration would. help in fast-, tracking the approval and other associated permits, providing  data of unserved & underserved communities within the States,.

Others he said, include creation of  an enabling environment for private sector developers and providing an interface between the REA, the states and the developers towards ensuring the sustainability of projects in their states.

The workshop served as a platform for the REA to convey its programmes and initiatives to the state governments and critical stakeholders at the workshop for a better understanding of its operations, and to achieve implementation sustainability and enhanced performance across all its programmes.

It provided an avenue for the REA to listen to the challenges faced by the States and proffer solutions that are critical in advancing the course of the REA Mandate and improving the energy sector.

Declaring the workshop open,  Minister of State for Power, Goddy Jedy-Agba, said “I believe that a stakeholder engagement such as this, beyond helping to stimulate growth in our critical sectors, ultimately enables the exchange of valuable ideas targeted at national development.”

Also, the  chairman of the Nigeria Governors’ Forum, Dr. Kayode Fayemi through his representative, Dr Abdulateef Shittu, the Executive Director, Nigeria Governors Forum, commended the management of REA for living up to its mandate of expanding rural electricity access across the rural frontiers of the country.

He stated that “the states are committed to the success of rural electrification programmes and emphasized that the rural economy is central to the overall national economy which is predicated on effective and robust rural electrification scheme.

He added:”This stakeholders’ workshop is coming at a very critical time when all hands must be on deck to solidify and improve on the gains that have been achieved in the energy sector. “

The Team Leader for Economic Development, Foreign, Commonwealth and Development Office, Gail Warrander mentioned “States have a critical role to play in developing policies and plans to support offgrid energy; through easy access to land for minigrids and simplified permits but also, they are best-placed to match potential locations for minigrid and stand-alone solar systems with households and businesses.

The United Kingdom (UK) is supporting the sector through the Africa Clean Energy – Technical Assistance Facility (ACE-TAF), and a 10 million pounds facility to InfraCredit to de-risk insurance and pension funds invested in the sector, as well as other programmes.”

The Nigeria Country Manager for ACE-TAF, Chibuikem Agbaegbu while giving his presentation stated that “We are positive that this collaboration between the Federal Government through the REA and the State Governments will accelerate energy access delivery in States especially in the rural un-served and under-served communities. We are happy to be partners to both REA and the state governments on this initiative, and will continue to support both parties in ensuring Nigeria meets its electricity targets”

The resolution at the workshop was outlined to include: Nomination of a Focal Person in each State for synergy between REA and State Governments; Timely information sharing with State Focal Persons on REA’s programmes and projects in planning, implementation and monitoring of projects; REA to create a centralized data repository for Rural Electrification data with State-level access for seamless data sharing of planned, completed, and ongoing projects.

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

NNPC Completes Mechanical Rehabilitation of Port Harcourt Refinery Plant

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company (NNPC) Limited, says that it has mechanically completed the rehabilitation of Area 5 Plant of the Port Harcourt Refining Company (PHRC). The nation's oil company began rehabilitation of the refinery two years ago, while at the same time, promised to complete its by 31st December 2023. The Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed. “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated. The GCEO commended NNPC's staff and the EPCIC contractors for doing a g...
Post a Comment
Read more

'2023 will usher in robust oil industry, says independent producers

Pix depicting Nigeria's energy sector Favour Ajibade The Independent Petroleum Producers Group (IPPG),has said that Nigeria will experience positive changes across its  oil and gas value chain in  2023. Its Chairman, Mr. Abdulrazaq Isa, gave this predictions during the Group’s 2022 Annual Dinner in Eko Hotel and Suites, Lagos.  He said that the tangible effects of the Petroleum Industry Act  implementation, conclusion of this International Oil Companies IOC's divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector, will all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come. According to him, the group has an important role to play going forward and as such are best placed to ensure the optimal development of Nigeria’s hydrocarbon resources as its members have demon...
Post a Comment
Read more