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Shell Agrees To Sell Nigerian Onshore Subsidiary, SPDC For $2.4bn

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Shell Plc said it has “reached an agreement to sell its Nigerian onshore subsidiary, The Shell Petroleum Development Company of Nigeria Limited.”

The SPDC is to be sold to Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria and an international energy group for $2.4 billion.

However, the Shell said the completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.

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In a statement on its website on Tuesday, it was disclosed that the transaction has been designed to preserve the full range of SPDC’s operating capabilities following the change of ownership.

READ ALSO: Nigerian Woman Dies In UK After Graduation

This, it said, “includes the technical expertise, management systems and processes that SPDC implements on behalf of all the companies in the SPDC Joint Venture (SPDC JV)”.

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The statement added that SPDC’s staff will continue to be employed by the company as it transitions to new ownership.

“Following completion, Shell will retain a role in supporting the management of SPDC Joint Venture facilities that supply a major portion of the feed gas to Nigeria LNG (NLNG), to help Nigeria achieve maximum value from NLNG,” the statement read partly.

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions” the statement quoted Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, as having said.

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The statement added, “It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium.

“Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy.”

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The SPDC JV is an unincorporated joint venture comprised of SPDC Ltd (30%), the government owned Nigerian National Petroleum Corporation (55%), Total Exploration and Production Nigeria Ltd (10%) and Nigeria Agip Oil Company Ltd (5%).

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Oke-Oroma Elders Accuse Edo-GIS Officials of Reviving Obaseki’s Controversial Coral City Project

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Elders of the Oke-Oroma community in Edo State, have raised concerns over alleged attempts by certain elements within the Edo State Geographic Information Service, Edo-GIS, to revive the outlawed Coral City template, a project initiated by former Governor Godwin Obaseki’s administration.

They claimed that this clandestine move by these elements in EDOGIS is aimed at undermining and frustrating the progress made in affirming and redeeming Governor Monday Okpebholo’s earlier solemn promises to the people.

Recall that the Edo State Government in a press release dated October 8, 2025, warned land grabbers, encroachers and speculators to steer clear the land in Obagie community designed for Coral City by the immediate past government, after it was reportedly speculated that some people have encroached the said area.

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In a press statement jointly signed by the Head of the Community, Gaius Emokpae and the Secretary, Monday Omorogiuwa and made available to the newsmen yesterday, the duo disclosed that Okpebholo has been working round the clock to address the issues surrounding the Oke-Oroma land disputed area, but faced with these elements who are hiding under government to escalate tension.

READ ALSO:Edo State Government Pays Last Respect To Late NSCDC Commandant

They revealed that in continuation of the former governor Obaseki’s manipulative tendencies, these elements have also reportedly established another new company named EDO NEW TOWNS DEVELOPMENT COMPANY LTD to replace the CORAL CITY with the directors purely their political associates, Blood relatives and friends.

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The gang up, according to Emokpae, is between Obaseki’s loyalists and these elements in EDOGIS who are attempting to silence governor Okpebholo’s decision on the issue.

The statement partly reads, “After Governor Monday Okpebholo was inaugurated on November 12, 2024, he visited the community and made a solemn promise to return our village to us after carrying out their investigations.

“When we visited him in the office he told us that the government had revoked the C of C of the people the former governor sold to, notably the “Coral City”. He told us to go back home and take over our land and start development.

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READ ALSO:CSOs, Academia, Impacted Communities Launch Climate Justice Campaign In Edo

The pronouncement was greeted with a thunderous ovation. We are now in the process of completing the legal documentation to conclude this milestone transaction

“But some powerful people in EDO-GIS are hiding under the umbrella of governance to re-invent the ex-governor Obaseki’s template specifically the Coral City to reverse the decision of Governor Monday Okpebholo.”

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While lamenting their moves, the duo emphasized that despite the governor’s clear intention on revoking the Coral City to allow the owners go back to their lands, the bank account used for the operations of the Coral City is still functional where some financial transactions were recently carried out between some people invited to purchase some piece of plots and EDO-GIS Officials.

Despite existing as an ancestral home date back 15th century ago, Oke Oroma Community had been immersed in communal boundary disputes with neighbouring villages including Amagba, and Obazagbon villages in Oredo Local Government, and Obagie N” vbuosa in Ikpoba Okha Local Government Area since June 2012, four months after the death of Pa Joseph Emokpae, the last Odionwere of the community.

READ ALSO:Police Alert Public On Anonymous Bomb Threats In Edo

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Since then the crisis escalated, and not less than 25 people have been killed with property worth billions of Naira by the former governor Obaseki’s backed loyalists and suspected land grabbers across the neighboring communities.

They expressed worry that if allowed to continue, this could lead to renewed tensions and violence in the area.

The elders, in the statement, are urging individuals seeking personal benefits to desist and work with the governor whose magnanimity is well known from the beginning of his administration as he takes necessary steps to prevent any further escalation of the situation and ensure the continued peace and stability of the community.

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Several calls put across to the Media Director of Edo-GIS by INFO DAILY for a response on the allegations, did not go through, as the network response: “The number you dial is switched off.”

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Tenebe Threatens To Suspend Edo Commissioner Who Fails To Wear Asiwaju’s Cap

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Chairman of the All progressives Congress in Edo State, Jarrett Tenebe, has said that any Commissioner sent out of the State Executive Council meeting for not wearing Tinubu’s signature cap would be suspended from the party.

Recall that Governor Monday Okpebholo had, during the Inauguration of the last batch of Commissioners, to wear the cap whenever they attend Exco meeting.

Tenebe in a television interview and monitored by our reporter said it was an act of indiscipline and insubordination for any Commissioner not to obey Okpebholo’s directive.

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He said any impediment for Edo APC not to achieve 3.5 million votes for President Tinubu in 2027 would not be tolerated.

READ ALSO:Tenebe Fingers Edo APC Chieftains As Plot To Replace Him As Chair Thickens

He said, “If you refuse to wear the cap as the governor has directed, we will suspend you. That is indiscipline and insubordination.

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“We are doing it because we have made a promise that 3.5 million votes are guaranteed. Everybody has keyed into realising the 3.5 million votes.

“If, as a member of the APC, you got an appointment, you are supposed to be loyal to the President.

“We are expressing our loyalty to the President by wearing the cap. Those complaining are not members of the APC. We, in Edo, have made it clear. No Asiwaju cap, no Exco.”

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Police Alert Public On Anonymous Bomb Threats In Edo

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The Edo State Police Command has alerted corporate organisations and members of the public to a wave of anonymous bomb threats being used by unidentified fraudsters to extort money.

The warning was contained in a public advisory issued on Monday by the Assistant Public Relations Officer, ASP Eno Ikoedem.

She said the command is investigating what it described as clear attempts to extort through fear and intimidation.

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“The Edo State Police Command has observed a disturbing crime trend involving anonymous callers threatening individuals, business owners, and corporate organisations in Edo State, claiming that explosive devices have been planted within their premises.

READ ALSO:Edo State Government Pays Last Respect To Late NSCDC Commandant

“The callers then demand money, threatening to detonate the alleged explosives if their demands are not met. These acts are clear attempts at extortion through fear and intimidation, and the Command is actively investigating reported cases,” Ikoedem said.

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In light of the development, the command urged members of the public to remain calm.

She added, “Do not panic or give in to any financial demands from such callers. The Command’s Explosive Ordnance Disposal (EOD) unit is fully capable of detecting and neutralising explosives.

“Report all such calls or messages immediately to the nearest police station or to the Command’s Control Room via 08077773721 or 08037646272.

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READ ALSO:Tenebe Fingers Edo APC Chieftains As Plot To Replace Him As Chair Thickens

Avoid spreading unverified information or causing unnecessary panic.

“Stay vigilant and report any suspicious persons, objects, or movements in your surroundings.”

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Meanwhile, the Commissioner of Police, Monday Agbonika, has ordered the deployment of specialised units, including the EOD team, Intelligence Bureau, and Tactical Squads, to respond swiftly to any reported threats and safeguard the public.

The Command also confirmed it is working closely with telecommunication providers and other security agencies to trace and apprehend the perpetrators.

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