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Shell, Six Others Commit N9.8tr To Fund Local Contractors

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As part of strategies to boost indigenous companies’ participation in the Nigerian oil and gas industry, Shell Exploration and Production Companies in Nigeria, five reputable banks and an American international financial institution have pulled together $6billion (approximately N9.8trillion) as funding commitment for local medium and large scale enterprises desirous of adding internal value to the lucrative industry.

First Bank Nigeria, Access Bank, CITI Bank Nigeria, Fidelity Bank, and Standard Chartered Bank, as well as DLR Integrated Business Services, which provides international financing and procurement services for local content providers, are partnering Shell joint venture to ease indigenous companies’ access to critical funds to finance huge procurement and manufacturing contracts in the oil and gas industry.

The Tide gathered that each of the five prestigious banks have dedicated $1billion to fund local contractors while DLR Integrated Business Services, with head office in New York, United States, has guaranteed $1billion international financing and procurement window, with a solid commitment to link Nigerian contractors with big-time equipment and products manufacturers as an instrument of facilitating sustainable partnerships for growth.

Chairman, Shell Companies in Nigeria, Mutiu Sunmonu said last Saturday in Port Harcourt while launching the Shell Contractors Support Funding Scheme that the initiative derives from the success of the year-old N4.5billion Shell Kobo Fund for community contractors.

Sunmonu said that the $6billion SME support funding commitment would enable local contractors to leverage hard-to-access international financing for big procurement and manufacturing contracts, adding that “this initiative will place Nigerian contractors at the front line for quality service delivery in the oil and gas industry.”

According to him, “in 2010 alone, Shell awarded contracts worth more than $947million to Nigerian companies” while “in 2011”, the company upped “the value of contracts to local contractors to $1.4billion”, representing about 93 per cent of the overall number of contracts and amounting to about 68 per cent of value of contracts awarded to third parties to date.”

He said that in the past, “financing of projects has traditionally been a major challenge to contractors’ growth and participation in the delivery of goods and services to the oil and gas industry,” and hoped that with the new dedicated fund, “financing difficulties will be greatly reduced.”

“The banks have committed to relaxing the collateral security requirement, reducing interest rates and establish their competitive advantage so as to become global players,” Sunmonu stressed, adding that he was looking forward to a day when Nigerian contractors will become major services suppliers to the Shell Group.”

While thanking the banks for partnering Shell to provide this launching pad for indigenous contractors, the Shell Nigeria chair charged participating local companies to play by the rules and apply the funds to agreed-upon projects while commending the Federal Government for initiating positive the reforms in the industry, particularly the local content law, pledging Shell’s commitment to fostering greater opportunities for Nigeria and Nigerians in the oil and gas industry.

In his remarks, Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Ernest Nwapa catalogued the pioneering role Shell was playing in developing local content in Nigeria, saying that “if other international oil companies (IOCs) commit just 50 per cent of what Shell is investing in developing local content, Nigeria oil and gas industry would lead the way in helping the Federal Government achieve its Vision 202020.”

Represented at the event by Engineer Gina O. Gina, the NCDMB boss challenged other IOCs to emulate the giant strides Shell was making in assisting government and Nigerians realise the vision of indigenous inclusiveness and participation in the industry as a veritable means of restoring peace and investors’ confidence while creating more jobs, wealth and sustainable prosperity in the country.

Also speaking, the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Morrison Fiddi, pledged the commitment of the joint venture partners to create enabling regulatory and operating climate for local companies in the industry to thrive and compete more favourably with their global counterparts.

The GGM, who was represented by Joseph Ehijiator, lauded Shell for the initiative, and appealed to indigenous companies to leverage the funds to increase their contributions to national development.

In their separate speeches, representatives of the partnering banks expressed untiring commitment to the scheme, pledging the unleash their global financial reach and capacity in ensuring that local contractors working for Shell access required funds to finance any contracts in line with the memorandum of understanding (MoU) guiding the initiative.

Responding on behalf of participating contractors, Managing Director, Skyward Resources Limited, Hon Enahoro Eta, showered encomium on Shell for the opportunity, and expressed optimism that the fund would enhance their participation and ability to deliver required services in-country.

Highlight of the event was the signing of the MoU for the scheme by Sunmonu on behalf of Shell while First Bank’s Group Head Energy, Institutional Banking, Olalekan Adelekan; Vice President Eastern Region Global Subsidiaries Group, CITI Bank, Theresa Evuleocha; Group Managing Director, Access Bank, Aigboje Aig-Imoukhuede; Managing Director, Fidelity Bank, Reginald Ihejiahi; Deputy Managing Director, Standard Chartered Bank, Ade Adeola; and President, David L. Ross & Associates, David L. Ross, signed on behalf of their financial institutions.

 

Nelson Chukwudi

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Hausa Community Debunks Saidu’s Appointment Report

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The Hausa Community in Rivers State has dissociated itself from media reports credited to one MaiwadaAdamu that the Arewa Community in Rivers State has appointed Alhaji Musa Saidu as the acting SarkinHausawa, PortHarcourt, following the inability of the former SarkinHausawa, Alhaji Isa Madaki to carry out his functions.
MaidawaAdamu, who is also the spokesman of the Arewa Initiative for Peaceful Co-existence, had briefed journalists on the change, but in a swift reaction, the Office of Alhaji Isa Madaki, has come out to say that the only recognised body which has the powers to appoint the SarkinHausawa, PortHarcourt is the Council of SarkinHausawa in PortHarcourt headed by Alhaji Isa Madaki.
The statement also said Alhaji Hussani Isa Madaki is the only recognisedSarkinHausawa, Port Harcourt, adding that his appointment follows the proclamation and endorsement by the council members of SarkinHausawa, Port Harcourt, Rivers State.
The statement further called on the general public and all authorities concerned to give Alhaji Hussani Isa Madaki maximum co-operation and support,as he discharges his duties as SarkinHausawa, Port Harcourt.

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Suspended Commissioner Denies Disruption Of Empowerment Programme 

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The Suspended Rivers State Commissioner for health, Dr Adaeze Chidinma Oreh, has described as baseless allegations in some quarters that she was responsible for the purported disruption of the Nigerian First Lady’s empowerment program in Port Harcourt.
Dr Oreh, who said this in a statement personally signed by her and a copy made available to newsmen in Port Harcourt also described the allegation as a product of the sick imagination of rumour mongers
According to Dr Oreh, “they are nothing more than a feeble and mischievous attempt to tarnish my reputation and sow discord”
In her words,”the  allegations levelled against me, Dr. Adaeze Oreh, regarding the supposed disruption of the First Lady’s empowerment programme on Friday 2nd May, 2025, are entirely unfounded, completely false, and a product of the sick imagination of rumour mongers and conflict entrepreneurs.
“They are nothing more than a feeble and mischievous attempt to tarnish my reputation and sow discord.”
The suspended commissioner challenged those behind the allegation, especially the Concerned Rivers Youth Organisation to show proof of its assertion adding “It is essential to base criticisms on facts rather than speculation or puerile political agendas.
“I challenge the “Concerned Rivers Youth Organisation” (assuming such a body really exists) to provide tangible proof to support their assertions.
“It is essential to base criticisms on facts rather than speculation or puerile political agendas.
“I have neither sponsored nor will  sponsor any activities aimed at embarrassing or disrupting the activities of the administration appointed by His Excellency President Bola Ahmed Tinubu GCFR to oversee the affairs of Rivers State following his declaration of a state of emergency on Tuesday, 18th March, 2025, and have rather spent the time of my suspension from office focused on other endeavours and my doctoral studies.
“I reaffirm my commitment to working tirelessly for the progress and development of Rivers State.
“Furthermore, I believe that it is crucial for all stakeholders to promote a culture of truth, integrity, and respect in public discourse.
“Unsubstantiated wild claims undermine trust and hinder constructive engagement, and this is not what the state needs at this difficult and delicate time.
“I urge everyone to focus on issues that unite us and foster a positive, solution-driven dialogue for the betterment of our State, and urge everyone to work together to build a brighter future for Rivers State, grounded in truth, transparency, and collective effort,”she said.

By: John Bibor

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HYPREP Solicits Regulators, Asset Owners’ Support

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The Hydrocarbon Pollution Remediation Project (HYPREP) has called on key regulators, asset owners and other stakeholders to continue to support the agency toward the goal of remediating the Ogoni environment and restoring the livelihoods of the people and building structures for peace.
The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, who made the call during the Project’s first quarter meeting with regulators, asset owners and stakeholders in Port Harcourt, urged the stakeholders to remain resolute in supporting HYPREP’s work.
“We particularly expect each regulatory agency and asset owner to deepen their involvement and continue to provide strategic support to the project”, he said, stressing that the quarterly meeting platform remains instrumental in providing a structural avenue for regulators, asset owners, and implementation partners to offer feedback to HYPREP on project performance and deliberate on ideas that move the project forward, as well as strengthen collaboration, deepen synergy and reinforce collective responsibility.
Zabbey disclosed that the socio-economic study of Ogoni has started, as HYPREP has contacted the International Agency for Research on Cancer of the World Health Organisation(WHO) to commence in the next quarter a three-year human health biomonitoring in Ogoniland.
He noted that work on several fronts of the cleanup project is progressing steadily, adding that as key project partners, the insights and shared experience of the regulators and asset owners have always enriched HYPREP’s operations.
He said the policy thrust of HYPREP for 2025 is clear, as the Project is intensifying efforts to complete within stated timelines, the various ongoing projects, including remediation works and mangrove restoration, potable water facilities, the Centre of Excellence for Environmental Restoration, the Ogoni Power Project, Ogoni Specialist Hospital, and Buan Cottage Hospital, among others.
Zabbey, however, announced that HYPREP would commence new set of shoreline cleanup, mangrove restoration and livelihood projects, to sustain the momentum of implementing the Ogoni cleanup, adding that the agency would also conduct detailed site characterisation of the high-risk complex sites, leading to remediation works at the sites.
He noted that HYPREP’s collaboration with Rivers State Ministries of Health, Power and Environment, and civil society organisations remains vital, stressing that the technical and administrative support of all relevant government agencies and funding partners is indispensable in helping HYPREP overcome operational bottlenecks, especially those encountered in interfacing with host communities.
He further indicated that “the people of Ogoni and the nation are looking to us with hope and expectation, and expect tangible results from the remediation initiative”, assuring the participants that the Project Coordination Office is committed to delivering positive results.
“We must, therefore, continue to work with diligence, transparency, and a renewed sense of purpose”, he declared, saying, “ the completion and commissioning of projects this year must reflect not only our technical ability but also our collective commitment to environmental sustainability and sustainable development in Ogoni.”
During the interactive session, the Project Coordinator briefed the participants on the progress made so far by HYPREP to conclude the distribution of starter packs to the 5,000 Ogoni trainees, and called on contractors who had already collected huge chunk of money for the project, to deliver without further delay.
In all, the regulators, asset owners and stakeholders commended HYPREP for the good works it is doing, and urged it to do more.
The National Oil Spill Detection and Response Agency(NOSDRA) was represented at the event by Deputy Director, Oil Field Assessment, Dr Abam Komommo Omini, while Dr Vincent Nwachukwu, Director of Medical Services, represented the Rivers State Ministry of Health.
The Rivers State Ministries of Water Resources, Power and Environment were represented by Dr Bealo Brownson; Engr K. J. Osele; and Mr James Ordu respectively, while the Society for Women and Youth Affairs (SWAYA); and the Stakeholder Democracy Network(SDN); among other civil society organisations were also at the event.

By: Donatus Ebi

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