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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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REA Signs MOU With Mercy Corps For Growth


REA's Managing Director, Abba Abubakar Aliyu

By Favour Ifeoluwa & Akinola Ajibade 

The Rural Electrification Agency (REA) has signed a  Memorandum of Understanding(MOU)  with Mercy Corps to strengthen electricity cooperatives and further improve access to power  in Nigeria. 

The signing took place last week at the Corporate Headquarters of the Agency in Abuja. 

The MoU aims at providing capacity building and strengthening the Rural Electricity Users Cooperative Society (REUCS), Technical Assistance for the Africa Mini-grid Programme – AMP as well as Support in the development of Sustainable Business Model for the Operations and Maintenance of the Korean Energy Project.

The Managing Director/CEO, Abba Abubakar Aliyu while giving his remarks stated that “today’s MoU signing strengthen REA’s drive for sustainability of projects”. He said “There is a need to always plan for the end of projects and to indeed put in sustainable measures that will drive the continuity of the project post completion. At REA, the REUCS is the platform used to ensure this sustainability. This platform ensures operation and maintenance of the projects as well as security of the infrastructure and revenue collection. Mercy Corps through years of expertise under this strategic partnership will help the Agency towards sustaining projects deployed.”

The Country Director of Mercy Corps Nigeria, Ndubuisi Anyawu stated “Today is pivotal for us with this signing with the REA. It is not just a formality but a spark that ignites partnership. We stand firm with REA’s mandate and envision a Nigeria that no matter how remote has access to electricity that powers homes, education, healthcare and social development. This MoU represents a powerful partnership that will mobilize communities to form strong cooperatives that will ensure economic growth. We are honored to partner with REA”

This collaboration signifies the willingness and commitment of the organizations in boosting the socio-economic lives of rural communities in Nigeria through provision of electricity.



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