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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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IBEDC will disconnect customers in Ibadan, others

By Akinola Ajibade


Consumers of electricity in Ibadan, Ogbomoso, Oyo and other areas are going to be in darkness soon, in the event that they fail to pay their bills, the badan Electricity Distribution Company (IBEDC) has said.

IBEDC covers Ibadan, Ogbomoso, Oyo and other areas in its jurisdiction.

IBEDC's Chief Operating Officer (COO), Engr. John Ayodele urged customers to pay their bills in order to avoid being disconnected.

He said:“We are retooling our revenue drive strategy to ensure that the monies that have been left uncollected through huge debts, non-payment of bills, underpayment of bills, meter bye-passing, use of illicit meters and energy theft are raked in to enable us to meet our obligations to the customers and the market operators”.

“As we all know there has been a major drop in the electricity generated across the country that has invariably caused the reduced power supply to our valued customers; this drop in generation from the GENCOs is also traceable to their inability to pay for gas, which is denominated in dollars. When customers do not pay for electricity consumed, it has a ripple effect, as we cannot service the electricity value chain”

He implored customers with disputed bills to lodge their complaints at the nearest IBEDC Office to seek redress or adjustments in cases where the claims are genuine and verifiable.

He further pleaded with customers to obtain their meters under the Meter Asset Provider Scheme (MAP) to put a stop to disputes over billing.

“The meters will record your accurate consumption, so please apply for a pre-paid meter if you are unmetered, if your meters are obsolete or faulty; and if you have a new building. Visit any IBEDC office in your location or go online to apply for the meters on msms.ibedc.com or www.ibedc.com” he said.

He also explained that customers who purchase meters under the MAP scheme will get their monies back in due course through energy units. On the issue of tariff rates that have generated arguments in some quarters,

He said only the Nigerian Electricity Regulatory Commission (NERC) has the power to determine what customers should pay for electricity based on their hours of supply.

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