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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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March 31 Deadline For

LIRS, Chair, Mr Subair


By Favour Ifeoluwa & Akinola Ajibade


Individual taxpayers in Lagos state  have less than five weeks to file their Tax Returns,  Lagos  Internal Revenue Service ( LIRS) has said.

The body, in  statement, by its Executive Chairman, made available to the media and signed yesterday( Sunday) by its Head Corporate Communications, Monsurat Amasa-Oyelude, gave March 31, as deadline for filling of the Annual Tax Returns,  adding that the development is in compliance with the stipulations containin the Personal Income Tax Amendment Act (PITA) Cap P8 2011. 

The statement added:  " Under Section 41 of the Amendment Act, all taxable entities must submit a return reflecting their total income from all sources for the preceding fiscal year to the relevant state tax authority within 90 days of the commencement of each new assessment year. 

It quoted Mr. Subair as underscorimg the importance of adhering to the deadline as he urged all individual taxpayers, including self-employed individuals and employees under the PAYE scheme in Lagos State to fulfill their obligation by the stipulated date to avoid penalties and other statutory consequences.

Emphasizing that tax returns should be submitted exclusively through the LIRS eTax portal, which can be accessed at https://etax.lirs.net, the LIRS boss said all taxable entities within Lagos State must register on the eTax portal, which has been designed to provide ease, convenience, and security to taxpayers.

“In furtherance of our commitment to facilitating compliance for taxpayers, dedicated tax officers are available at our various tax stations to assist individuals in completing online registration and tax return submissions via the eTax portal”, Subair added.

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