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FG’ll Approve Shell’s $2.4bn Asset Sale – Minister

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The Federal Government is not going to impede legitimate business transactions in the oil sector and won’t waste time to approve the $2.4bn onshore asset sale of Shell, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said.

He, however, pointed out that this would be based on the fact that the oil major provides the necessary documents.

Shell, a British energy major, recently announced that it had reached an agreement to sell its Nigerian onshore subsidiary – Shell Petroleum Development Company of Nigeria Limited, to Renaissance for $2.4bn after about a century of operations in the NIger Delta.

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READ ALSO: Removal Of Fuel Subsidy Tough On Citizens, Tinubu Admits

Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria and an international energy group, confirmed the deal.

Shell had stated in a statement that the “completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.”

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Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Lokpobiri addressed Shell’s decision to sell its onshore assets to the consortium of five Nigerian and international companies.

He affirmed the Federal Government’s commitment to fostering a business-friendly environment in the oil and gas sector, according to a statement issued in Abuja on Thursday by his media aide, Nneamaka Okafor.

READ ALSO: Japa: UK Lists Companies Eligible To Sponsor Nigerians’ Work Visa In 2024

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Commenting on the divestment move of Shell, the minister said, “On the part of the government, once we get the necessary documents, we will not waste time to give the necessary considerations and consent.”

Responding to concerns about international oil companies diversifying their onshore assets, the minister highlighted the positive aspects of the diversification.

He noted that Nigeria loses nothing, as such moves create opportunities for indigenous companies with the capacity to acquire and professionally manage these assets, leading to increased profitability and the maximisation of their potential.

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Addressing potential negative impacts on the country, Lokpobiri reassured Nigerians that the diversification would not adversely affect Nigeria.

 

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BREAKING: ‎Court Sentences Nnamdi Kanu To Life Imprisonment For Terrorism

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Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), has been sentenced to life imprisonment by a Federal High Court in Abuja after being convicted on all seven counts of terrorism filed against him.

Justice James Omotosho, delivering judgment in Kanu’s trial, described him as a terrorist whose actions have led to bloodshed and destabilization in the South-East.

He said Kanu, who portrayed himself as a defender of his people, has instead endangered lives and national security.

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READ ALSO:JUST IN: Nigerian Govt Demands Death Sentence On Nnamdi Kanu

The court finds that the defendant, Nnamdi Kanu, is an international terrorist and must be treated accordingly,” Justice Omotosho declared.

The judge emphasized that the prosecution presented credible and sufficient evidence to prove the case against Kanu. He also noted that Kanu failed to enter a defense, choosing instead to rest his case on the prosecution’s evidence.

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Justice Omotosho is still delivering the remaining part of the judgment.

 

 

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JUST IN: Nigerian Govt Demands Death Sentence On Nnamdi Kanu

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The Nigerian government has demanded the imposition of death sentence on Nnamdi Kanu following his conviction on terrorism charges.

Counsel to the Federal Government, Adegboyega Awomolo, SAN, informed the court that the sections of the law under which Kanu was charged and convicted carried death sentence without any option.

Addressing the court after the pronouncement, the senior lawyer said the court has no discretion to exercise than to impose maximum punishment on him in line with the dictates of the law.

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READ ALSO:BREAKING: Judge Orders Kanu Out Of Court Over ‘Unruly’ Conduct

Awomolo held that Kanu throughout the trial did not show remorse for the offences he committed against the Federal Republic of Nigeria but chose to be militant, arrogant and unruly in his attitude.

He also demanded that all properties seized from Kanu be forfeited to the Federal Government.

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The prosecution counsel equally demanded that Kanu be taken to prison where his security will be guaranteed till when the judgment against him would be executed.

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JUST IN: Nigerian Separatist Leader Convicted On Terrorism Charges

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A court in Nigeria has found separatist leader Nnamdi Kanu guilty of terrorism 10 years after he was first arrested.

The court said it was satisfied that Kanu had made a series of broadcasts to incite violence and killings, as part of his campaign for a separate state in south-east Nigeria, known as Biafra.

Kanu has so far been convicted on six of the seven charges he faced, with the judge continuing to deliver his ruling.

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A relatively obscure figure, Kanu’s popularity surged in 2009 when he started Radio Biafra, a station that called for an independent state for the Igbo people broadcast to Nigeria from London.

READ ALSO:JUST IN: Court Rules Judgment In Kanu’s Terrorism Trial

Though he grew up in south-eastern Nigeria, where he attended the University of Nsukka, Kanu moved to the UK before graduating and acquired British nationality.

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In 2014, he set up the Indigenous People Of Biafra (Ipob), a movement demanding independence.

Ipob was banned as a terrorist organisation in 2017. Its armed wing – the Eastern Security Network – has been accused of killings and other acts of violence in recent years.

Delivering his judgement, Judge James Omotosho said: “Mr Kanu knew what he was doing, he was bent on carrying out these threats without consideration to his own people.

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READ ALSO:BREAKING: Judge Orders Kanu Out Of Court Over ‘Unruly’ Conduct

“From the incontroverted evidence, it is clear that the defendant carried out preparatory act of terrorism.

“He had the duty to explain himself but failed to do so.”

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Ahead of the verdict, Kanu insisted that proceedings could not continue because he had not yet filed his final written address, accusing the judge of bias and not understanding the law.

READ ALSO:Court Threatens To Foreclose Kanu If He Fails To Open Defence

The verdict was delivered after Kanu had been forcibly removed from the courtroom for unruly behaviour.

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He was first arrested in October 2015 but he jumped bail in 2017 and left the country after a military raid on his home. The court later revoked his bail in March 2019 and he was re-arrested in 2021 in Kenya.

The calls for Biafran independence date back many years.

In 1967 Igbo leaders declared a Biafran state, but after a brutal civil war, which led to the deaths of up to a million people, the secessionist rebellion was defeated.

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