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...
By Favour Ifeoluwa & Akinola Ajibade
The Federal Government has commissioned five power projects, with a view to improve supply of electricity in the country. The projects and their locations are in Okene, Kogi State, Amukpe, Delta State, Potiskum, Yobe State, Apo in Abuja, and Ihovbor, Edo State, under the phase one of the Presidential Power Initiative (PPI).
The phase one of the PPI is targeted at increasing Nigeria’s wheeling capacity by 272 megawatts, thus culminating in a more robust delivery of electricity to consumers across the nation.
Speaking at the commissioning of the 60MVA Power Transformer yesterday, the Minister of Power, Chief Adebayo Adelabu, said: “Concurrently, we are remotely inaugurating four additional sites, namely Amukpe in Delta State, Potiskum in Yobe State, Apo in Abuja, and Ihvobor in Edo State.
“This is why we commend the strides that have been made by the FGN Power Company under the Presidential Power Initiative. In particular, the partnership that has been forged with the German government and Siemens Energy which led to the production and installation of these world-class equipment we are commissioning today.
“PPI, I must note, is a strategic and systematic approach to solving Nigeria’s perennial problems of unreliable and inadequate electricity supply. I am delighted that with the German Government’s partnership with the Federal Government of Nigeria on the execution of the PPI, we will be able to deliver reliable power supply to the entire country. Mr. President has mandated that we accelerate our Agreement with Siemens Energy, and we are currently finalizing the scope of that work with all stakeholders.”
Similarly, the Managing director/CEO, FGN Power Company, Mr. Kenny Anuwe, said: “Today marks yet another historic day in the journey of our beloved country, Nigeria and the Presidential Power Initiative (PPI). The inauguration of four other sites, which include Amukpe in Delta State, Potiskum in Yobe State, Apo in Abuja and Ihovbor in Edo State, will collectively boost the transmission wheeling capacity by 272MW for onward delivery to electricity consumers. These signify a pivotal step forward in the revitalization of the power sector, serving as a masterstroke that will profoundly impact our industrial, social, and commercial life as a nation.
“The PPI has embarked on a noteworthy initiative by deploying Ten (10) Power Transformers and Ten (10) Mobile Substations across Nigeria. This strategic move will augment the transmission wheeling capacity, a pivotal component of the current administration’s concerted efforts to expeditiously deliver enhanced power supply. Importantly, the deployment of these devices underscores our steadfast dedication to advancing improved electricity access for the people of Nigeria.
“Let me at this point express my profound gratitude to the President and Commander-in-Chief of the Nigerian Armed Forces, His Excellency, Ashiwaju Bola Ahmed Tinubu, for his single-minded determination to continue the pursuit of improved power supply for Nigerians, as initiated by his predecessor, former President Muhammadu Buhari.
“I extend my gratitude to the Honourable Minister of Power for your exemplary leadership and dedication to fulfilling the mandate of the PPI. Special thanks are also due to the former Governor of Kogi state, Yahaya Bello and the incumbent Governor of the State His Excellency, Ahmed Usman Ododo for your invaluable support during the project implementation in Okene, which has made the commissioning of this project a reality.
“We acknowledge the importance of improved power supply towards the attainment of the present administration’s Renewed Hope agenda and assure Mr. President of our determination to provide all necessary leverage towards the attainment of his administration’s national objective.”
He said: “When, on August 31, 2018, the Federal Government of Nigeria established the Presidential Power Initiative (PPI), the underlying objective was to coordinate the partnerships and secure financing for the project that would improve the country’s power transmission, distribution, and generation capacity for the benefit of Nigerian households and businesses.
“Through hard work and driven by an immeasurable sense of patriotism, the Nigerian government was able to reach an agreement with the German government, resulting in Siemens Energy’s emergence as the implementation partner to deliver on PPI’s mandate to modernize and revamp infastuctures in the power sector .
“Partnering with the German Government, Siemens A.G and Siemens Energy, we were able to set for ourselves and our dear country Nigeria, the ambitious task of boosting power supply from an estimated 4,000 megawatts to 25,000 megawatts.
“We are aware of the country’s economic and social potentials and needs. Therefore, FGN Power Company, through the PPI, has laid plans for an even distribution of power infrastructure across all the geopolitical and potential economic power zones of the country.
“This is why this commissioning of the power transformer in Okene, Kogi State is important. We strongly believe that with improved power supply in Kogi State as well as in other parts of North Central Nigeria, investments in agriculture and food processing will begin to spiral, and with that, there will be spontaneous personal, regional, and national economic growth.”
He added: “This administration is setting the course towards economic development, and access to energy is the foundation for job creation and economic growth. I am happy to announce that with our partnership with Siemens Energy, we have been able to create more jobs while also delivering capacity building in the area of power sector engineering for Nigerian engineers.”
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