News

Sale Of Assets: Shell Cannot Exit N’Delta Without Addressing Ecological, Health, Economic Consequences Of Its Operations – CSOs

Published

2 years ago

January 21, 2024

Editor

By Joseph Ebi Kanjo, Benin

Civil society organisations mostly operating from the Niger Delta region have called on the Federal Government to urgently produce a framework and guide on how oil companies disengage from areas where they have operated.

The CSOs recommended that such guides should be developed by a multi stakeholder group including
communities and civil society organizations.

They further recommended that guidelines for any divestment (or sale) framework should include: “A scientifically developed post hydrocarbon impact assessment report that establishes the exact ecological and livelihoods impacts of oil extraction.

“A health audit of people located near extraction sites, and others
exposed to oil contamination and gas flaring. This audit will aim at
unravelling the negative health impacts of exposure to hydrocarbons.

“A detailed plan and costing for remediating the ecological,
livelihood and health impacts of extraction.

“The establishment of independent frameworks for remediating all
identified impacts and compensation to the impacted individuals and communities.

“Posting of funds in a designated account commensurate for the cleanup of impacted ecosystems and restoration of livelihoods.”

Their call and recommendations followed a recent announcement by Shell on its website and social media handles that it had reached an agreement to sell its Nigerian onshore subsidiary, SPDC, to a consortium of domestic and international oil companies for a total net fee of $2.8 billion.

The finalisation of the transaction is, however, dependent on the approval of the Federal Government.

The civil society organisations, in a statement signed by Nnimmo Bassey, Health of Mother Earth Foundation; Ken Henshaw, We The People; Tijah Bolton-Akpan, Policy Alert; Stephen Oduware, Niger Delta Alternatives Convergence, and two other CSOs, argued that Shell cannot just sell off their assets and walk away without addressing the “many cases and concerns about the ecological, health, economic, and social consequences of its operations in the Niger Delta.”

The statement made available to INFO DAILY by Kome Odhomor
Media/Communication Lead, Health of Mother Earth Foundation, reads in parts: “It is pertinent that Shell owns up to its responsibility for the ecocidal damage of territories they have exploited.

“This means full payment for the remediation and restoration of the polluted areas as well as reparations to the host communities. They cannot walk away from the grave and irreparable harm they have caused,” the CSOs said.

The civil society organisations, while condemning strongly the attempt by Shell to sell off onshore oil assets, further urged the Federal Government to “immediately place a moratorium on all oil company divestment (or sale of assets) in the Niger Delta, pending the ascertaining of issues of community concern.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

5 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

6 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

8 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.