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...
Down: An official working on the wires
By Favour Ifeoluwa & Akinola Ajibade
Nigerians are experiencing power outage across the country again, following the collapse of national grid again on Friday June 6th, this year).
This is the fourth time the grid will collapse in 2024, a development, which has generated controversy among stakeholders in the nation's economy. For instance, the country was thrown into blackout three months ago, a development, which the Federal Government through the Transmission Company of Nigeria( TCN) is still battling with in the country.
This system collapse, which occured at about 3:00pm on Saturday afternoon has continued to suprise many Nigerians, as regards the effectiveness of the power infrastructure in Nigeria, few years after privatisation of the electricity sector.
Speaking on the issue, the Head, Corporate of Communications at Enugu Electricity Distribution Company, Emeka Ezeh said the bulk electricity supply from the Transmission Company of Nigeria (TCN) National Control Centre has consequently been disrupted.
According to him, the situation is the reason for the loss of power supply currently being experienced across the network.
“Due to this development, all our interface TCN stations are out of supply, and we are unable to provide services to our customers in Abia, Anambra, Ebonyi, Enugu, and Imo states.
“We are on standby awaiting detailed information of the collapse and restoration of supply from the National Control Centre (NCC), Osogbo,” he said.
The national grid system, operated by the Transmission Company of Nigeria (TCN), has collapsed about 227 times in the last 14 years, and about four times in 2024 alone, resulting in nationwide blackout at each occurrence, pending when it is fixed and power restored and transmitted to the DISCOS, who resume distribution to the electricity consumers.
This reporter, Izunna Okafor, gathered that the latest collapse of the national grid is coming days after TCN announced that electricity generation declined to 4,723.30 megawatts peak on July 4, 2024, compared to 4800mw in May.
This is also coming amid the April 3 and July 1 2024 electricity tariff hikes for Band A customers, who are supposed to get between 20 to 24-hour power supply daily, as their electricity tariff rose from N66 per kilowatt-hour to N206.80
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