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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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Nigeria To Welcome Two More Submarine Cables


NCC's EVC/ CEO, Dr Maida 



By Favour Ifeoluwa & Akinola Ajibade 


Nigeria will simultaneously welcome two more submarine cables soon, with a view to aid connectivity in the country.

While one of the cables will be in Lagos, the second cable is going to be in Akwa-Ibom state. The cables will ensure that those not yet connected are connected and further enhancing their usage at affordable rates. 

Submarine cables are primarily used by operators  the telecommunication industry in order to ensure they effective services.

The Nigerian Communications Commission (NCC) Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the NCC, Dr. Aminu Maida, who stated this in Lagos, assured investors of the support of the Commission as soon as the tho cables were deployed in the country.

He said the support of the Commission awaits law-abiding investors like Meta, (formerly Facebook), which responds positively to Nigeria’s desire for investments that promote the agenda of government to achieve a robust digital economy.

While receiving delegation of Meta, led by the company’s Vice President for Africa, in hia office, said the regulatory support to all investors, including operators in Nigeria, will be predicated on their playing by the rules and regulations guiding the sector.

The delegation was led by the Company's Vice President for Middle-East and Turkey, Kojo Boakye. 

According to him, the Commission places a lot of premium on compliance to industry laws, regulations and guidelines as such will also engender a level-playing field for all licensees and other stakeholders in the industry for sustaining a healthy competition and guaranteeing a sustainable growth in the Nigerian telecoms sector.

Maida, stated this in a statement, made available to journalists, Sunday, signed by the Commission’s Director of Public Affairs, Reuben Muoka.

Responding, Boakye informed NCC boss that the purpose of the visit was to congratulate the EVC on his appointment by the President and to intimate him of ongoing efforts to land 2Africa Cable in Nigeria.

Boakye said that the submaine cable, which is 45,000 kilometres long  will be one of the world’s largest subsea cable projects and will interconnect Europe (eastward via Egypt), Asia (via Saudi Arabia), and Africa.

He said the system will go live in 2023, delivering more than the total combined capacity of all subsea cables currently serving Africa, with a design capacity of up to 180 terabytes per second (Tbps).

Boakye stated that 2Africa will deliver much-needed Internet capacity and reliability across large parts of Africa, supplement the fast-growing capacity demand in the Middle East and underpin further growth of 4G, 5G and fixed broadband access for billions of people, especially in Nigeria.

He solicited NCC’s support in sailing through all necessary legal and regulatory hurdles in landing the submarine cable to complement existing backbone infrastructure in Nigeria.

Boakye also said Meta, through a consortium, plans to land 2Africa cable simultaneously in Lagos and Akwa-Ibom States “in order to ensure those not yet connected are connected while those already connected are given opportunity for enhanced and affordable access.”


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