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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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'Digital economy is immensely boosting nation's GDP'

Pantami


By Akinola Ajibade



Nigeria's Information and Communications Technology ( ICT) sector has excellently contributed 18.44 per cent to the country's Gross Domestic Product( GDP)  in the second quarter of 2022, the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami),has said.

The Minister, in a statement, made available to the media at the weekend, said that digital economy is growing under the present leadership of the ministry.

In the statement signed by Dr.Femi Adeluyi, Technical Assistant (Research and Development) to the Minister of Communications and Digital Economy, the ministry is expressing joy over the state of the digital economy in the country.

It added that:”The report by the NBS indicated that the ICT sector contributed 18.44% to the total real GDP in Q2 2022. This is the highest contribution of ICT to the GDP and is truly unprecedented and marks the third time that the sector has achieved an unprecedented contribution to Nigeria’s GDP during the tenure of the Honourable Minister- in Q1 2020, Q2 2021 and now Q2 2022.

“The oil sector contributed 6.33% to the total real GDP in Q2 2022, which was lower that the contribution in Q2 ‘2021 and Q1 ‘2022, where it contributed 7.42% and 6.63% respectively. The non-oil sector’s contribution grew by 4.77% in real terms, resulting in a 93.67% contribution to the nation’s GDP in the Q2 ‘2022, higher than Q2 ‘2021 and Q2 ‘2022, where it contributed 92.58% and 93.37% respectively.

“The Honorable Minister notes that the growing contribution of the ICT sector to the GDP is as a result of the commitment of the administration of President Muhammadu Buhari, GCFR to the development of the digital economy.

“The diligent implementation of the National Digital Economy Policy and Strategy (NDEPS) for a digital Nigeria, stakeholder engagement and creation of an enabling environment have all played an important role in this achievement.

“The support of President Muhammadu Buhari,has contributed immensely to the impressive developments in the sector.The unprecedented contribution of ICT to Nigeria’s GDP can also be attributed to the dynamic and results-oriented leadership of the sector”

He added that the GDP report has shown how critical the ICT sector is to the growth of our country’s digital economy and, by extension, the general economy.

He congratulated all stakeholders in the digital economy ecosystem for this cheering news, while renewing his call to all sectors to take advantage of the Federal Government’s new focus on the digital economy to enable and improve their processes through the use of information and communication technology.

 

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