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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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Fed Govt-NSIA: You are no longer an investor in national carrier



Favour Ajibade


The Federal Government has taken the Nigerian Sovereign Investment Authority (NSIA) out of the list of investors for the nation’s national carrier,the Nigerian Air.

The Ministry of Aviation, in a statement signed by its  James Odaudu, Special Assistant (Public Affairs), James Odaudu, admitted that it included the Nigerian Sovereign Investment Authority (NSIA) as one of the investors in the nation’s national carrier, in great error.

He noted that the NSIA was not mentioned in Minister of Aviation Senator Hadi Sirika’s presentation, but only in the general brief given to the media, stressing that it was an error made during its preparation.

According to him,the equity ownership structure of Nigeria Air stands as : Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS and other institutional investors) 46% and the Federal Government 5%.

The statement titled, ‘Error of Inclusion of NSIA as an Investor in Nigeria Air’ reads:
Error of Inclusion of NSIA as an Investor in Nigeria Air.

“Our attention has been drawn to the inadvertent inclusion of the Nigerian Sovereign Investment Authority (NSIA) as part of the private investors in the Nigeria Air project. We wish to clarify that the Authority is not involved, in any way, as part of the private equity ownership of the airline, being a government establishment.

“It should be noted that the NSIA was not mentioned in Honourable Minister’s presentation, but only in the general brief given to the media, an error made during its preparation.

“For the avoidance of doubt, the equity ownership structure of Nigeria Air stands as : Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS and other institutional investors) 46% and the Federal Government 5%.The public, especially the business community and the media should please take note”.


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