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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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NESG Tasks Stakeholders On Economic Growth


Nigeria's economy requires domestic and foreign investments in order to compete favourably with others in the African continent, the Director of Research, Nigerian Economic Summit Group, Dr Olusegun Omisakin has said.

He said areas such as infrastructure, education and health care require growth. 

According to him, the group which is a think-tank for economic acceleration, will hold its summit between October 23 -24, will use growth as a sub theme for the event, adding that Nigeria would not have problem on how to shore up its domestic and global competitiveness, once it has embraced innovation and also enhanced skill acquisition programmes. 




He said the idea would help in bringing diverse investments into the country for growth.

The development, Omisakin said, will stimulate economic expansion, by providing employment opportunities for the country.

He further said that strategic trade expansion in non-oil sectors with a focus on exports will diversify external revenue sources, reduce reliance on the oil and gas industry and elevate Nigeria’s economic complexity on the global stage.

 This, Omisakin added, would enable Nigeria to leverage the potential of the African Continental Free Trade Agreement (AfCFTA), build resilience against external shocks, and forge a more equitable, inclusive, and sustainable economy that benefits all Nigerians.”


 
196580cookie-checkNESG Urges Stakeholder

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