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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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Labour Shelves Strike, Gives CBN 14 days To Disburse More Cash



By Akinola Ajibade



The Nigeria Labour Congress (NLC) yesterday  (Tuesday) shelved the plans to embark on a nationwide strike over scarcity of cash,  a development, which is having undesirable consequences on many Nigerians.

The body, instead,has given both the Federal Government and Central Bank of Nigeria(CBN) a grace of two weeks to further monitor the level of compliance of cash disbursement through commercial banks. 

NLC and its affilate--Trade Union Congress ( TUC) had planned to start strike (Wednesday ( March 29th). However, they they  changed their plans after consultations with members, which advised against the decision in order not to further weaken the economy.

Speaking on the development, NLC President, Joe Ajaero said that there was a change in plans,  after a meeting with the members of its National Executive Council( NEC).

Recall that NLC  issued an ultimatum to go on strike beginning from Wednesday, nationwide, part of which included a plan to picket the various branches of the Central Bank of Nigeria.

Also,  TUC's President, Festus Osifo also corroborated Ajaero’s position, saying there was need to benchmark the government, not just concerning scarcity of cash but the challenges associated with fuel products and unending queues, including electricity tarrif.

 

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