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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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Reps Plans To Probe Mismanagement Of M183.9b COVID-19 Intervention Funds

House of Representatives Sitting in Abuja recently


By Favour & Akinola Ajibade


The House of Representatives( yesterday) Tuesday, ordered the Public Accounts Committee  to investigate N183.9billion disbursed to Ministries, Departments and Agencies of the Federal Government from 2020 to 2022. 

The money, was part of the intervention funds, given to governments and their agencies, in order to curtail the impacts of COVID 19 on economies globally.

In a motion moved on the floor of the House recently, Hon. Nyampa Dauda Zakari, noted that the sum of N83.9 billion was appropriated for the COVID-19 response in the 2020 appropriation Act as well as another sum of over N100 billion as intervention funds through supplementary budget and international donor agencies.

According to him,the Auditor-General’s report and other sources reveal that significant funds for COVID-19 palliatives and international donations were diverted and unaccounted for by various Ministries, Departments and Agencies of Government.

He added:”Concerned that the lack of proper accountability of funds allocated for COVID19 intervention by the lockdowns, travel restrictions, business closures, and government shutdowns to control the virus’s disrupted economic activities, leading to global measures.

He noted that the House is mindful that “the Federal Government of Nigeria initiated several measures including budgetary provisions as well as funding from International donor agencies to combat the COVID-19 pandemic on the citizens.

A member from Borno State Ahmed Jaha, observed that the COVID-19 funds would have improved the health sector of the country if it was properly utilized.

The house hresolved to mandate the Public Accounts Committee to investigate the expenditure of funds appropriated or disbursed as COVID-19 intervention to Ministries, Departments and Agencies of the Federal Government from 2020 to 2022 and report back within one month for further legislative 

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