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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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Reasons Behind Our Participation In The Summit - Shettima


By Favour & Akinola 

Nigeria participated in the recently concluded African-Russian Summit in Petersburg, Russia, in order to see to the completion of the Ajaokuta Steel Complex and also revive of the Aluminium Smelter Company of Nigeria (ALSCON), Vice President, Kashim Shettima has said.

He said the country attended the summit in order to discuss to access possible growth plans for her economy, assuring the Nigerian community in Russia of the readiness of administration of  President Bola Tinubu to grow its economy. 

Shettima said : “Be rest assured that in the next 9 to 12 months there will be a swift change in the fortunes of Nigeria. I am talking with all sense of certainty and responsibility because I believe in the capacity and commitment of President Bola Ahmed Tinubu.

The government, Shettima said, was committed to repositioning the economy, adding, “We are here for the Africa-Russia Summit, but we are also here fundamentally to pursue the completion of the Ajaokuta Steel Complex and revival of the Aluminium Smelter Company of Nigeria (ALSCON).

“Ajaokuta Company is  a game changer. Having a vibrant steel industry is a sine qua non for the industrial takeoff of any country. I can promise you that the president will bring Ajaokuta to reality.

“Be rest assured that if there is one legacy that President Tinubu would bequeath to fellow Nigerians, Ajaokuta is one. I will come back to Russia. We are going to drive this process, and my leader, my boss and principal, President Bola Ahmed Tinubu, is irrevocably committed to Ajaokuta and to ALSCON.

“We have begun the discussion, and we will see to it that these two companies take off; we have no option than to bring them to reality,” Vice President Shettima emphasised.

Present at the forum were Nigeria’s Ambassador to Russia, Shehu Abdullahi; Permanent Secretaries,  Ministry of Petroleum Resources, Mr Gabriel Aduda; Ministry of Mines and Steel Development, Mrs Mary Ogbe; President of the Nigerian Community in Russia, Dr Maurice Okoli, and the chairman of the Nigerians in Diaspora (NIDO), Russia, Mr Sampson Uwem, among others.


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