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...
Bread, a commonly eaten staple food in Nigeria, may disappear from the family's menu soon, in the event that the Federal Government fails provide solutions to the rising cost of making materials in the country.
This happens, as the bread producers and caterers have threatened to withdraw their services nationwide , on account of the huge increase in bakery materials and the decision by the government not to reverse the situation.
Prior to this period, the News Mirror, reported that the price may increase to N1,000 per load, in the event that urgent solutions are not proffer to the Russian/ Ukraine crises on time. Reason being that Russia is one of the major producers of wheat globally, a development, which has made Nigeria to import 30 per cent of wheat and other baking materials from Europe.
Conveying the threats to withdraw services from the country in a communique which was forwarded to the media on the eve of the cost of baking materials that has gone beyond what many bankers in Nigeria could afford, Association of Master Bakers and Caterer of Nigeria, said that it is a high time the government wade into the matter in order to bring respite to citizens, who are struggling to survive in the country.
The body said that the cost of flour, sugar and other materials used in bakery business had gone beyond the reach of many users.
The bakers stated that they would down tools from July 13, 2022 and lamented that efforts to get government’s intervention in the matter had been unsuccessful, as there had been no positive response from the concerned ministries, departments and agencies of government.
The association’s executives, led by its National President, Mansur Umar, stated that the council reviewed the “neglect of the Federal Government in addressing the challenges facing our sector as captured in our letters acknowledged by the Federal Ministry of Industry, Trade and Investment, Federal Ministry of Finance, Central Bank of Nigeria and unproductive intervention of the Secretary to the Government of the Federation.
He added:“Increase in prices of bakery materials especially flour and sugar having reached unprecedented levels, for example, flour is now between N25,000 and N27,500, so also other ingredients.
“The National Wheat Cultivation Committee already constituted is yet to be inaugurated after over one year. NAFDAC, SON, NESREA have turned the bakers into money making machine by charging our members outrageous levies even at this very challenging moment.
“Consequently, the NEC in session resolved that all zones, state, Local Governments and units of our association should commence full mobilisation of our members nationwide to embark on withdrawal of services starting from Wednesday July 13, 2022 for an initial period of two weeks.The, however, noted that its “members should await further directives.”
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