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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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' Deadline For Waivers, Others Is December 31'


Favour Ifeoluwa & Akinola Ajibade


The Federal Inland Revenue Service(FIRS) says waivers on penalties and interests in overdue taxes and contingents on full principal payments will as from Sunday, December 31, this year not be in operation, its Chairman, Zaccch Adedeji, has said. 

Adedeji, in a statement issued by its Special Adviser, Mr Dare Adekanmbi and made available to the News Mirror, said that the agency imposes penalties and interests as punishment for companies, which fail to fulfil their tax obligations as  stipulated in existing tax laws. 

He, however, the decision of the agency to forgive companies that have piled up penalties and interests was “in recognition of the challenges, that many taxpayers have faced in settling their outstanding tax liabilities.

“In recognition of the challenges that many taxpayers have faced in settling their outstanding tax liabilities, and in line with the commitment of the current government to support businesses, said Adedeji in the statement..

He added that the Federal Inland Revenue Service  approved the following tax concessions for taxpayers with outstanding tax liabilities, in accordance with Federal Inland Revenue Service (Establishment) Act, LFN 2004 as amended: 

Full waiver of penalties on outstanding tax liabilities and Full waiver on interests on outstanding tax liabilities. Taxpayers are advised that the waiver of interest is subject to the full settlement of outstanding principal on or before 31 December 2023.

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