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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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Rep Caucus Backs Tinubu's Tax Reform Bills

Members, House of Repsentative 


(By Favour Ifeoluwa & Akinola Ajibade)




Members House of Representatives Southern Caucus, yesterday (Tuesday) expressed support for President Bola  Tinubu's Tax Reform Bills.

The lawmakers briefed journalists  after a meeting at the residence of the Deputy Speaker, Benjamin Kalu.

According to them, the tax reform bill is  a welcome development for the country, adding that it will give the bill the necessary support it  needed in order to improve the tax system in the country

Speaking on the issue,  the caucus chairman, Nicholas Mutu, said  the lawmakers will consult widely over the controversial clauses to ensure all stakeholders are carried along.

Regarding key northern leaders’ opposition to the bill, the Southern Caucus stated that it would continue to meet with its counterparts from the north to find a middle ground on all contentious issues.

The four executive bills transmitted to the National Assembly by President Tinubu on September 3 were the subject of heated verbal exchanges among lawmakers in the Green Chamber at a closed-door session a fortnight ago.

Recall that the bills were transmitted to the National Assembly, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.

They include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will give a clear and concise legal framework for all taxes in the country and reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.

Since the President’s transmission to the parliament, the bills have been greeted with stiff opposition, particularly from the 36 state governors, who in October called for their withdrawal to allow room for more consultation.


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