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...
By Akinola Ajibade
Nigeria's aviation problem would continue for sometime, as there is immediate solution on sight to check it, the Minister of Aviation, Sen. Hadi Sirika has said.
He said that the crises rocking the sector are many and as a result, cannot be solved outrightly.
Sirika stated this recently during an emergency meeting with the Airline Operators Association of Nigeria (AON) in Abuja.
According to him, there was no short term solution because of the variables involved especially that it is a global problem.
He added:”Energy crises is real and it is global. Today there is aviation fuel problem all over the world. From America to New Zealand. It is aggravating in Nigeria because we don’t produce the product. It’s aggravated also because the foreign exchange is scarce in Nigeria because the source of earning the foreign exchange also has dwindled” .
He said that the Federal Government had in the past sourced 10,000 metric tonnes of Aviation Fuel for the airlines adding that the government is wiling to do more.
“As we speak, the government is in the process of finding a permanent solution to this issue” he assured.
Some of the solutions he said include, “importation of the product at appropriate price, accelerating the refurbishment of our refineries and also wait for the coming on stream of Dangote Refinery to boost supply of the product.”
“So when you ask how soon, I wouldn’t know when Dangote will come on stream, I wouldn’t know how soon the refineries will be filled. I wouldn’t know when imports would become sufficient. But the government is working towards all these to happen” he assured.
He also said he will meet with relevant stakeholders including the CBN so the airlines can access dollars at the official market rate rather than the black market rate.
Similarly, the President,AON, Alh. Abdulmunaf Yunusa Sarina, said the aviation fuel crisis begun from N180 per litre and now it’s at N1000 per litre.
He also said the foreign crisis is a huge burden on the Industry.
“The rate at which the dollar is escalating now is very alarming. Everyday, a difference between 10-15 Naira is added at the pararrel market. Last week Monday, it was N610 but today, it is N670 to one dollar” he said.
He implored the Minister to intervene.
Also commenting, Mr. Allen Oyeama, the Vice President, AON, said the AON was satisfied with the government intervention in the Industry.
“We, the airline operators are satisfied with the approach of the government is bringing to the table. I told you Mr. President in order o alleviate our sufferings approved 10,000MT of fuel. Another 5,000 has come in. We are about to start accessing that. We are pleased with the approach for the long run” he said.
He also agreed that the solution is not in the short term.
“It is not easy to give a timeline to issues like this because the challenge is global. Even the Amwrican airlines are threatened too. Its not only Nigeria. Which is whybqw are eating the government. But we are pleased so far” he said.
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