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...
Dealers of sub-standard products may end up in prison, once the bill which repeal the Act setting up the Standard Organisation of Nigeria ( SON) is passed into law, the Director General, SON, Dr Farouk Salim has said.
He said the Act establishing the agency is currently being reviewed at the National Assembly, adding the Act would provide stuffer sanctions for unscrupulous individuals, who import and deal sub-standard products.
Speaking during the Stakeholders Conference Oganised by Commerce and Industry Correspondents of Nigeria ( CICAN) in Abuja, Salim said the agency is set to sanitise activities in the industry.
He said: "The bill to repeal and enact SON Act, when passed into law would criminalise production, manufacturing and distribution of substandard products, with a view to stop endangering lives of consumers in Nigeria.
Adding that: The bill to repeal and enact SON Act, when passed into law would impose fines on dealers of sub-standard products, as well as prescribing jail terms to them in order to deter others from venturing into the ilegal activities.
The Act, he noted aimed at strengthening SON's core mandate of fighting malpractices as well as encouraging competitiveness of Nigerian goods and those produced outside the country.
On Ease of Doing Business, Salim said SON is working with the Presidential Enabling Business Environment Council (PEBEC) in order to ensure efficient service delivery through the promotion of a transparent and efficient business environment/publication of processes and requirements, timelines and fees in SON premises and website.
SON, Salim said, came first on the PEBEC 2020/21 ranking in the Ease of Doing Business among Ministries, Departments and Agencies(MDAs) in Nigeria.
He said that the Off-shore Conformity Assessment Programme (SONCAP) was part of continuous efforts by SON to protect Nigerian consumers from unsafe and or sub-standard products.
The Standards Organisation of Nigeria,SON,is putting in place stiffer punitive measures to check the activities of the dealers of sub-standard products in the country
Mr. Farouk Salim, Director General of SON,spoke in Abuja at the Stakeholders Conference organised by Commerce and Industry Correspondents Association of Nigeria(CICAN).
He said the Act establishing the Organisation is currently being reviewed at the National Assembly,adding that the Act would provide stiffer sanctions for unscrupulous individuals who import and deal with sub-standard products.
He said,the bill to rebringpeal and enact SON Act, when passed into law would not only impose fines on dealers of sub-standard products, but also prescribe jail terms to them to serve as a deterrent to others.
He also said the bll to repeal and enact SON Act, when passed into law would criminalise the production, manufacturing and distribution of substandard products that could endanger the lives of consumers in the country.
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