Skip to main content

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...
Post a Comment

'State-Owned Airports Are Unviable In Nigeria- Says Nuhu

One of state- owned airports in Nigeria


By Favour & Akinola Ajibade  


The General Manager, Nigeria Civil Aviation Authority (NCAA), Captain Musa Nuhu has passed a vote of no confidence on state-owned airports, describing them as wastes to their owners, mainly state governments.

However, the former Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf said that four out of 32  airports in the country are economically sustainable.

They include Murtala Muhammed Airport in  Lagos (which generates about 50% of the entire revenue), Nnamdi Azikiwe Airport in Abuja, Mallam Aminu Kano International Airport (MAKIA), and Port-Harcourt International Airport.

Both remarks were made this Tuesday, during a virtual media conference in Lagos. The conference, which is second annual National Transport Technology Engagement and Exhibition,  had the theme, ‘The Viability of State-Owned Airports: Issues, Challenges and the Way Forward.  

Many state-owned airports, Buhu said, are unviable and were built without considering the air traffic in the state.

Highlighting their problems further, he said the increasing construction of airports by state governors places a growing regulatory burden on the agency.

Nuhu identified several challenges stemming from this situation, including financial stress on various agencies within the aviation sector, such as the Federal Airports Authority of Nigeria (FAAN), the Nigerian Airspace Management Agency (NAMA), and other related organizations.

Nuhu articulated thus,

“We have been stretched beyond our capacity. How does an airport generate revenue when it operates only once a week?”

“Most of the airports are unviable; built without traffic in mind and leaving the burden to the Federal Government to shoulder. Airports should be a catalyst for economic development. It has to be well thought through. It becomes a problem when an airport will not generate economic returns.”

Contributing to the discussion, the President of the National Association of Nigeria Travel Agencies (NANTA), Susan Akporiaye attributed the lack of thriving state-owned airports to inadequate funding.

She stressed that no business can thrive when an airport operates only one or two flights daily.

State government airports conduit pipe for embezzlement

Wole Shadare, an aviation journalist and participant in the webinar, alleged that many state government-led airport projects serve as conduits for embezzlement of public funds.

He expressed frustration that numerous state governors continue to build non-viable airports in their regions, subsequently transferring them to FAAN, which places additional pressure on the revenues generated by the only four viable airports.

Share estimated that not less than N374 billion had been expended on such projects by the states, which observers consider as mechanisms for misappropriating public funds rather than promoting economic interests.

Comments

Post a Comment

Popular posts from this blog

'Nigeria Needs Carbon Emission Reduction To Diversify Energy Portfolio'

SNEPCo Wins Awards  By Favour & Akinola Ajibade Nigeria will be able to reduce carbon emission caused by fossil fuels production, once its  renewable energy portfolio, is diversified, Shell Nigeria Exploration and Production Company (SNEPCo) Managing Director Mrs, Elohor Aiboni has said.  According to her, Nigeria would meet the energy needs of its growing population of over 200 million people, once it encourages Public-Private Partnerships in renewable energy, adding that the development would enable her to overcome high investment costs and limited access to financing. She spoke in Lagos, during the 41st annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE). The event was organised for her and  other senior officials of the company.  SNEPCo's Managing Director, Alboni  At the event are officials of SCiN) and their various awards. There,SCiN won the Best Exhibitor and Plat...
Post a Comment
Read more

SHELL PHOTOSTORY-2 ( LAKOWE GOLF COURSE, LAGOS

L-R: General Manager, Safety and Environment, Shell Nigeria, Elozino Olaniyan; Vice President Midstream, Henry Bristol; former Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Chike Onyejekwe; SNEPCo Managing Director, Elohor Aiboni and Shell Nigeria Vice President, Human Resources, Olukayode Ogunleye, at the Golf Kitty retreat organised for serving and retired leaders of Shell Nigeria at the Lakowe Golf Course, Lagos… recently. A cross section of serving and retired leaders of Shell Nigeria at the Shell Nigeria Golf Kitty Retreat held at Lakowe Golf Course, Lagos… recently.    
Post a Comment
Read more

NUPRC Is Not Leaving Abuja As Erroneously Speculated

By Ibrahim Musa With clear mandates – ensuring compliance with petroleum laws, regulations and guidelines, monitoring of operations at drilling sites, producing wells, production platforms and flowstations, crude oil export terminals, and all pipelines carrying crude oil, and natural gas, supervising operations being carried out under licenses and leases, monitoring operations to ensure that they are in line with national goals and aspirations – the Nigerian Upstream Regulatory Commission, NUPRC, occupies a very influential position in Nigeria’s oil and gas industry. The NUPRC also has the mandate to monitor operations to ensure that they are in line with national goals and aspirations, including those relating to Natural Gas Flare elimination & monetization, Domestic Gas Delivery Obligations and Domestic crude oil supply obligations and ensures that Health Safety& Environmental regulations conform to national and international best oil field practice. The agency fu...
Post a Comment
Read more