Connect with us

Business

Reps Want Shell Censured Over Alleged Lack Of Transparency

Published

11 years ago

on

The House of Represen
tatives’ Ad- hoc Committee on Malabu Oil and Gas  Limited has recommended that Shell Nigeria Ultra Deeps(SNUD) be censured by the House for  lack of transparency in its bid to acquire OPL245.
The committee made the recommendations in its report to the House on the transaction involving the Federal Government and Shell/Agip companies and Malabu Oil and Gas Limited.
It also recommended that SNUD be reprimanded for its lack of disclosure in its bid to acquire oil block OPL 245.
Earlier, the Chairman of the Ad – hoc Committee, Rep. Leo Ogor, (PDP-Delta) said that the modalities which Shell Nigeria entered into the oil block transaction lacked transparency.
He urged the House to look at the report with the interest of the nation at heart.
The committee equally recommended that Agip Nigeria Agip Exploration limited (NAE) be formally censured or reprimanded by the House for its role in the “Resolution Agreement” which lacked transparency.
It also recommended that the Federal Government should cancel OPL 245 licence   recently  granted to Shell Nigeria Exploration and Production Company (SNEPCO) because of its flawed ‘resolution agreement’.
It said that the ‘resolution agreement’ was contrary to the laws of Nigeria.
The committee said that Shell entered into a resolution agreement with Malabu Oil and Gas, SNEPCO and NAE with the Federal Government acting as an Obligor.
The Committee said that the ‘resolution agreement’ ceded away “our national interest and further committed Nigeria to some unacceptable indemnities and liabilities while acting as an Obligor”.
It also recommended that in redrafting a new ‘resolution agreement’, Nigeria’s tax laws should be respected where applicable.
It recommended that the Federal Government, through the Ministry of Petroleum Resources and Office of the Attorney-General of the Federation, facilitates a new ‘ resolution agreement’.
It said the agreement should be in line with the Petroleum Act and the Indigenous Concession Programme (ICP) of government that guided the initial allocation of OPL 245 to Malabu.
It also recommended that the House should direct the committees on Petroleum Resources (Upstream) and Downstream, Gas Resources and Local Content to make a list of similar ventures with petroleum sharing agreement.
It would be recalled that Malabu was allocated OPL 245 in April, 1998 and in accordance with the terms of the grant; it appointed Shell as its technical partner.

Related Topics:
Continue Reading

Business

NPA Assures On Staff Welfare 

Published

6 days ago

on

June 27, 2025

By

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

7 days ago

on

June 27, 2025

By

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

7 days ago

on

June 27, 2025

By

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending