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Gbenga Daniel: I joined APC because it offers many options Gbenga Daniel, a former governor of Ogun, says he joined the All Progressive Congress (APC) because the party “offers too many options”.Advertisement Daniel spoke on Monday when he was received.
Reps panel summons army chief, Emefiele over arms purchase A house of representatives committee has summoned Attahiru Ibrahim, chief of army staff (COAS), to clarify issues concerning arms purchase for the Nigerian army.Advertisement The ad hoc committee on arms.
Akeredolu: Promoters of Oduduwa Republic are politicians who lost power Rotimi Akeredolu, governor of Ondo, says the state will not secede from Nigeria, adding that the advocates of Oduduwa Republic are politicians who lost out on power.Advertisement Sunday Adeyemo, popularly.
Article by Amanda Jasi
A DUTCH appeals court has ruled that Shell is responsible for the consequences of oil spills in two Nigerian villages from its subsidiary Shell Petroleum Development Company of Nigeria (SPDC). A decision regarding oil spills in a third village is yet to be made.
In a case launched 13 years ago, four Nigerian farmers and Milieudefensie (Friends of the Earth Netherlands) claimed compensation from Shell for damage suffered due to oil spills from underground pipelines and an oil well. The spills from pipelines occurred in the villages of Goi (about 150 bbl) and Oruma (400 bbl) in 2004 and 2005, respectively. Two leaks occurred in the village of Ikot Ada Udo in 2006 (about 1 bbl) and 2007 (629 bbl). Shell has argued that it is not responsible under Nigerian law, as the spills were caused by sabotage.
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC) and DSV Engineering have signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL), committing equity investment of US$670m.
The facility would be the largest methanol plant in Africa and the first in Nigeria. Its construction phase is expected to create 30,000 direct and indirect jobs and additional 5,000 permanent jobs during the operations phase, the NCDMB said in a statement.
According to the financing plan, the project was estimated to cost about $3.5 billion and aside the equity from NCDMB, NNPC and DSV, the lenders which includes a consortium of Chinese banks led by the China-Exim Bank, African Development Bank (AfDB), international commercial banks, regional banks and African institutions, were expected to raise 70 per cent of the project cost.
The management of Standard Chartered Bank has assured its numerous clients of its commitment to supporting their growth aspirations, no matter the sector they operate in.
The lender made this promise while speaking on the role it played in the recent acquisition of a 45 per cent working interest in OML17 by Heirs Holdings Oil & Gas Limited.
Standard Chartered acted as coordinator/financial advisor to Heirs Holdings in the deal described as one of the largest in the oil and gas sector in Africa.
Heirs Holdings acquired the stakes held by Shell Petroleum Development Company of Nigeria Limited (SPDC), Total E&P Nigeria Limited (TEPNG) and Nigerian Agip Oil Company Limited (NAOC), a subsidiary of ENI SpA, in OML 17, a producing onshore oil and gas asset in Nigeria.