Business
Diri Goes Int’l With Environmental Justice Campaign …Seeks Remediation For Polluted Oil Communities
Bayelsa State Governor, Senator Douye Diri, has again taken his campaign for environmental justice for oil-ravaged communities in his state and the Niger Delta region to the international community.
Towards this end, the governor met with the Secretary-General of the Commonwealth, Baroness Patricia Scotland, at its secretariat in London, saying the body’s intervention was needed to successfully implement the report of the Bayelsa State Oil and Environmental Commission (BSOEC) titled: ”An Environmental Genocide: Counting the Humanitarian and Environmental Cost of Oil in Bayelsa, Nigeria”.
It would be recalled that prior to Governor Diri’s ascension into office, his predecessor, Henry Seriake Dickson, unveiled a commission of inquiry on oil and gas related environmental hazards.
The 216-page report of the Commission, which was chaired by the former Archbishop of York, Lord John Sentamu, was launched in May 2023 at the House of Lords in London.
Governor Diri in a statement by his Chief Press Secretary, Mr. Daniel Alabrah, was quoted while presenting the report to Baroness Scotland saying International Oil Companies (IOCs) operating in the state were divesting and exiting the Niger Delta without any concrete plan to remediate and compensate host communities polluted by their exploration activities.
He faulted the 13 percent derivation to oil-producing states and the federal laws on oil and gas exploration in Nigeria, appealing to the Commonwealth to support efforts to address the environmental injustice that oil-bearing communities had been subjected to.
Diri said his administration was open to dialogue to prevent a double jeopardy for the communities as well as exploring the legal option, if dialogue failed.
“The Commonwealth’s dedication to environmental protection is crucial, and we are eager to collaborate in addressing these pressing issues together. We are here because we can achieve so much in terms of the environmental challenges we face by collaborating with your office.
“We’re also here because your intervention will attract the attention of our Federal Government back home. The recommendations of the BSOEC report will be implemented not only by our state, but there are also aspects that require our Federal Government’s action.
“As a sub-national government, there is little we can do to ensure the implementation of this report. The oil and gas resources underneath our soil belong to the Federal Government”, he said.
The Governor continued that “Bayelsa State has endured catastrophic environmental degradation due to decades of oil exploration, transforming our once vibrant region into one of the most polluted places on earth.
“The health implications for our people are severe, with reduced life expectancy and increased neonatal deaths. We cannot ignore the human cost of this environmental crisis. I often wonder if the oil underneath our soil had become a curse or a blessing”.
He expressed the state’s concern about Shell’s planned divestment from its onshore operations.
“It is imperative that this transition does not allow the company to walk away from the environmental devastation it has caused over the years.
“We urge Shell to commit to a comprehensive clean-up and remediation plan before exiting, ensuring that the people of Bayelsa are not left to shoulder the burden of this disaster alone.
“We expect that a responsible international business organisation such as Shell would set aside funds to restore the environment in advance of its divestment”, the Bayelsa State Chief Executive lamented.
He also noted that the State Government had previously reached a negotiated settlement with Shell on dispute issues that involved tenement rates for the Gbarain gas processing facility and looks forward to opening similar discussions on this issue.
“We’re also exploring legal avenues to halt Shell’s divestment until adequate measures for environmental restoration are firmly in place. We must protect our communities and their future”, he said.
In their remarks, Lord Sentamu, another BSOEC member, Dr. Kathryn Nwajiaku-Dahou, and Chairman of the Bayelsa State Traditional Rulers Council, King Bubaraye Dakolo, urged the Commonwealth to take steps to halt the “environmental genocide” in Bayelsa in particular and the Niger Delta in general.
They reasoned that the continued crude oil pollution of rivers and the flaring of gas constituted “landmines” to the health and livelihoods of people of the state and the region.
The Bayelsa State Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN, who also spoke, highlighted the inadequacies in the Petroleum Industry Act 2021 in addressing the issue of environmental degradation and compensation for host communities.
Dambo said the PIA centralises control of the oil and gas sector, reinforcing the Federal Government’s authority over natural resources, with minimal consideration for the needs and rights of communities and states where the resources are located.
“The lack of substantial decision-making power for local communities and state governments further entrenches their marginalisation and leaves little room for states to influence policy, or benefit from the resources extracted within their borders”, the Attorney-General said.
Responding, the Commonwealth Secretary-General, Baroness Scotland, thanked the Governor and his delegation for the visit, their presentation and the report, which she said had shed more light on the oil-rated issues in Nigeria and Bayelsa.
She noted that oil exploration in Nigeria presented an interesting scenario as the Federal Government holds majority stakes in the joint venture arrangement in place.
“So, this is not only about Shell alone. This is something that is politically complex and as an institution it is essential for us to promote best practices, which in this case can be found in the Oil and Gas Decommissioning toolkit that we have developed. And through the promulgation of best practices, it can help to provide better clarity when the conversations with the Nigerian Federal Government take place.
“It can also help in relation to regulation and when dealing with offsetting the threats that might arise from the multi-lateral and multinational companies”, she said.
Scotland added that a team will examine the report and proffer appropriate recommendations that will guide all parties concerned.
Ariwera Ibibo-Howells, Yenagoa
Business
Nigeria Loses N17tr Yearly To Abandoned Projects
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Business
Transcorp Power seeks sustained investment across Nigeria’s electricity value chain
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
Business
FG generates N33tn revenue in 10 months – Oyedele
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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