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 Minister of Communications, Innovation and Digital Economy,Dr Bosun Tijani says the proposed hike in Telcom Tariff to 100 per cent is not possible.
He said the hike in telecom tarrif cannot be 100 percent, despite the fact that the Federal Government has given green light to the increase.
He disclosed this after the stakeholders met the investors in Abuja.
According to him, the Nigerian Communications Commission (NCC) is finalizing consultations with telecom companies and will unveil the revised tariffs in the coming weeks. He assured Nigerians that the increase would be significantly lower than the operators’ proposal, highlighting the government’s efforts to balance consumer protection with sector investments.
Tijani TVsaid: “We understand the operators’ concerns, but we are committed to ensuring a balance. The focus should not just be on tariff hikes; we are also prioritizing meaningful connectivity and the sector’s growth.”
He added that the government would no longer rely solely on private investments for telecom infrastructure, as private-sector players often prioritize short- to medium-term returns.
The issue of hike in tariff has dominated the Telecom industry for some time now because of the rising operational costs, with a company like Airtel Nigeria reporting a 300% increase in operating expenses. However, consumer groups have expressed concerns about the potential impact on subscribers.
The NCC has dismissed rumors of a 100% tariff hike, emphasizing that any changes would follow due process and involve stakeholder input. The commission has also assured subscribers that updates on tariffs would be communicated through official channels.
With the revised tariffs expected to take effect soon, Nigerians are bracing for potential changes in their telecom services. While the government aims to strike a balance between consumer interests and sector sustainability, only time will tell how the tariff hike will impact the telecom landscape.
Dr. Aminu Maida, Executive Vice Chairman of the NCC, reiterated the government’s commitment to the sector’s sustainability. He emphasized that the proposed 100% tariff hike would not be approved and assured stakeholders of further consultations.
Maida also disclosed that the NCC is working with MNOs to simplify pricing models, addressing consumer complaints about hidden charges and data-related issues.
During the meeting, representatives from telecom companies, including Airtel, acknowledged the rising operational and capital costs, stressing that tariff adjustments are necessary to maintain service quality and sustainability in Nigeria.
The approved tariff changes are expected to be announced soon.
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