By Folasade Akpan
Abuja, 28 Jan. 2021 Afreximbank has disbursed 250 million dollars as part of its support for Trans Niger Oil and Gas Ltd (TNOG) to acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield.
The NNPC holds 55 per cent equity in the Lease.
The disbursement is about a quarter of the financing required to enable TNOG to buy stakes in the Lease from Shell Petroleum Development Company, Total E&P Nigeria Ltd. and ENI (AGIP).
The total support package from Afreximbank – Africa Export Import Bank – is 1.1 billion dollars, it said in a statement issued in Cairo on Thursday.
It noted that with the 250 million dollar Reserve Based Lending (RBL) facility, Afreximbank was the largest lender in the acquisition process.
A Dutch court has ordered Shell Petroleum Development Company (SPDC) to pay compensation over oil spills in the Niger Delta region of Nigeria.
This recent ruling could rise to many more cases against the Nigerian subsidiary of Royal Dutch Shell over its operations in the country.
The court found SPGC liable for damages from pipeline leaks in the 2 villages of Oruma and Goi and will decide the amount of compensation later.
According to a report by Aljazeera, the Court of Appeal in The Hague on Friday ruled that the Nigerian arm of the British-Dutch oil company, which has its headquarters in the Netherlands, must pay compensation over a long-running civil case involving 4 Nigerian farmers seeking compensation, and a cleanup, from the company over pollution caused by leaking oil pipelines.
A Senior Advocate of Nigeria, Femi Falana has said it will be difficult and inequitable to arrest the popular Yoruba activist, Sunday Igboho for asking Fulani herdsmen to vacate Igangan, Ibarapa area of Oyo State.
Falana, while featuring on a Channels television programme on Friday morning said the failure of the Federal Government to take actions when some Northern Governors repatriated Almajiris back to their home states shows that the issue of security in Nigeria is being politicized.
According to him, nobody has the right to issue quit notice to any Nigerian living in any part of the country.
However, the human rights lawyer recalled that the government at the centre did not deem it necessary to arrest a Northerner who once asked Igbos living in the North to quit, saying, “it is going to be difficult and inequitable to go for Sunday Igboho.”
Court Orders Shell Nigeria to Compensate Farmers
The company is liable for two leaks that spewed oil over an area of about 60 soccer fields in two villages.
Jan 29th, 2021
AP Photo/Mike Corder
THE HAGUE, Netherlands (AP) In a victory for environmentalists and Nigerians whose land was polluted by oil leaks, a Dutch appeals court ordered energy giant Shell s Nigerian subsidiary to compensate farmers in two villages for damage to their land caused by leaks in 2004 and 2005.
Friends of the Earth Netherlands director Donald Pols hailed the ruling as a victory for small communities hurt by huge companies. Up until this morning, Dutch multinationals could act with impunity in developing countries . and this has changed now, Pols said. From this moment onwards, Dutch multinationals will be held accountable for their activities and their actions in developing countries. And that s an enormous victory for the rights of law globally.