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
The Transmission Company of Nigeria (TCN) says it has restored the national grid, which collapsed in early hours of Monday ( Yesterday).
TCN, in a statement signed by its General Manager, Public Affairs and made available to the media, said that “the restoration of the affected part of the grid commenced immediately at 11.55 am with Osogbo/Ihovbor back to the grid followed by Jebba/Osogbo, Kainji/Jebba, Benin/Onisha, Shiroro/Kaduna, Shiroro/Katampe, and Alaoji/Ikot-Ekpene,” it said in a statement on Monday.
“Others are, he said, include Lokoja/Gwagwalada, Odukpani/Ikot Ekpene, Benin/Omotosho, Oke-Aro/Ikeja west, Egbin/Oke-Aro and Kaduna/Kano.”
Explaining the cause of the incident, the TCN said it was due to “a sudden drop in system frequency, which created system instability”.
“The National Control Centre (NCC) said a full-scale investigation is being conducted to establish and ascertain the cause of the partial disturbance as this unwholesome event has resulted in aggregated generation loss,” TCN’s General Manager, Public Affairs, Ndidi Mbah, said in the statement.
Earlier in the day, electricity distribution companies had informed their customers of the disruption of power, citing the collapse of the national grid. They did not state the cause of the outage.
Ikeja Electric said the national grid collapsed at 10:50 am on Monday, noting that “this has affected the transmission stations within our network and resulted in the loss of power supply to our customers”.
The DISCOs equally apologised to them, saying work was being done to fix the issue.
“We are working with our TCN partners to restore supply as soon as possible,” Eko Electricity Distribution Company also said. “We apologise for the inconvenience.”
Monday’s incident is the latest in a series of blackouts in the country owing to the incessant collapse of the national grid.
The national grid had collapsed eight times this year with the last one coming in July. It equally collapsed in June, March, and April 2022.
With the national electricity grid collapsed on Monday many parts of the country were left without power, electricity distribution companies said.
Nigeria has installed capacity of 12,500 megawatts but produces about a quarter of that, leaving many Nigerians and businesses reliant on diesel-powered generators. Diesel prices have soared since the start of the year.
The nation’s sclerotic power grid, and its precarious energy supply,are often cited by businesses as a key issue hindering growth in Africa’s most populous country.
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