News
House of Reps Halts Oil Company Divestments Over Unresolved Liabilities
Additionally, the House is pushing for the creation of an Environmental Restoration Fund, funded by the IOCs, to tackle the estimated $100 billion in damages outlined by the United Nations Environment Programme (UNEP) and the Bayelsa State Commission. Legislators also demand the introduction of profit-sharing arrangements to ensure host communities receive direct benefits from oil and gas revenues.
The Upstream Petroleum Regulatory Commission has been directed to strictly enforce the Petroleum Industry Act (PIA) by scrutinizing all divestment applications, ensuring corporate accountability, and thoroughly assessing the financial, technical, and environmental capacity of new operators before approvals are granted.
These resolutions followed a motion of urgent national importance sponsored by House Minority Leader, Rep. Kingsley Chinda, titled “The Need to Protect Environmental Integrity, Community Welfare, and Regulatory Independence in the Niger Delta by Halting Divestments of International Oil Companies, including Shell and TotalEnergies.” The motion was debated and adopted during Thursday’s plenary session.
Speaking on the motion, Chinda emphasised the federal government’s responsibility to safeguard the rights and welfare of its citizens, particularly Niger Delta residents, who have suffered decades of environmental degradation and socio-economic hardship due to oil exploration. He warned that approving divestments without resolving these long-standing issues would set a dangerous precedent.
Lawmakers who spoke in support of the motion acknowledged the federal government’s ongoing efforts to address oil industry challenges through relevant agencies.
Chairman of the House Committee on Petroleum Upstream, Rep. Alhassan Ado Doguwa, emphasized that legislative intervention would enhance these efforts, ensuring a more comprehensive approach to managing oil sector transitions.
“This motion not only allows us to tackle the pressing issues affecting our people, but it also provides an opportunity to revisit existing legal frameworks. We must introduce permanent statutory provisions to address gaps that were overlooked during the enactment of the Petroleum Industry Act (PIA),” Doguwa stated.
He further clarified misconceptions about divestment, explaining that International Oil Companies (IOCs) are not physically exiting Nigeria but rather shifting investments from shallow-water to deep-sea operations.
“Divestment, in this context, does not mean these companies are leaving Nigeria entirely. They remain committed to their corporate, commercial, and economic responsibilities within the sector. It is essential that this distinction is understood,” he added.
Deputy Chairman of the House Committee on Environment, Rep. Tersee Ugbo, noted that multiple committee sessions and retreats had revealed a critical oversight: the PIA lacks clear provisions on how divestments should be handled.
“We discovered that divestment was completely omitted from the PIA, and there are no proper legal guidelines for how IOCs should exit their investments. This gap has led to discussions on the need for a Divestment Act to establish a structured framework for such transitions,” Ugbo explained.
Lawmakers stressed that without a well-defined regulatory structure, unchecked divestments could pose significant economic and environmental risks to host communities and the country at large.
By Kayode Sanni-Arewa
President Bola Ahmed Tinubu on Monday held an Iftar dinner with the Rivers State governor, Siminalayi Fubara, and Minister of the Federal Capital Territory (FCT), Nyesom Wike.
Th pesident also hosted other governmental heads, including Ministers, heads of ministries, departments and agencies at the presidential Villa, Abuja.
Also present at the Iftar dinner which is part of the annual ritual of the President, are Vice President Kashim Shettima, the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila and Minister and cabinet members.
Among the state governors in attendance are Dr. Alex Otti of Abia State, Pastor Umo Eno of Akwa Ibom, Bala Mohammed of Bauchi, Hyacinth Alia of Benue , Babagana Zulum of Borno, Sheriff Oborevwori of Delta, Monday Okpebholo of Edo, Muhammad Yahaya of Gombe, Umar Namadi of Jigawa and Uba Sani of Kaduna,
Others are Abba Kabir Yusuf of Kano, Nasir Idris of Kebbi, AbdulRahman AbdulRazaq of Kwara, Abdullahi Sule of Nasarawa, Mohammed Bago of Niger, Dapo Abiodun of Ogun, Lucky Aiyedatiwa of Ondo, Duoye Diri of Bayelsa and Francis Nwifuru of Ebonyi State.
Also in attendance were heads of key government agencies: the Chairman of the National Hajj Commission of Nigeria, Professor Abdullahi Mukhtar Muhammad, the Acting Controller General of the Nigerian Correctional Service, Sylvester Ndidi Nwakuche, the Comptroller General of the Federal Fire Service, Jaji Abdulganiyu, and the Comptroller General of the Nigeria Customs Service, Bashir Adeniyi.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Abba Kyari and the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed.
By Kayode Sanni-Arewa
Ex-Kaduna State Governor, Nasir Ahmad El-Rufai, has officially resigned from the All Progressives Congress (APC), saying the party’s deviation from its founding principles and lack of internal democracy.
In a statement released on Monday, March 10, 2025, El-Rufai explained that after extensive consultations, he had decided to join the Social Democratic Party (SDP) as a platform to continue pursuing his progressive political ideals.
Disillusionment with APC
El-Rufai, a founding member of the APC, said he had hoped that the party’s core values would remain intact, but recent events had convinced him otherwise.
“Developments in the last two years confirm that there is no desire on the part of those who currently control and run the APC to acknowledge, much less address, the unhealthy situation of the party,” he stated.
He further noted that his contributions to the party’s successes, including the electoral victories in 2015, 2019, and 2023, had been disregarded by the current leadership.
“The APC has castrated its organs and treated its membership with contempt in the last two years. I find this no longer acceptable.”
Announcing his decision to join the SDP, El-Rufai described the party as a better platform for promoting democratic values, good governance, and national unity.
“I have now decided to join the Social Democratic Party (SDP) and adopt it as the platform for our future political engagements and activities.”
By Kayode Sanni-Arewa
The Senate President, Mr. Godswill Akpabio, has queried the jurisdiction of the Federal High Court sitting in Abuja to hear the suit that was brought before it by the suspended lawmaker representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan.
Senator Akpabio, through his team of lawyers led by Mr. Kehinde Ogunwumiju, SAN, queried the powers of the court to meddle in the affairs of the Senate.
At the resumed proceeding in the matter on Monday, Ogunwumiju, SAN, noted that Senator Akpoti-Uduaghan had yet to effect proper service of the court processes to enable him to file the necessary application to challenge its competence.
Aside from Senator Akpabio who was cited as the 3rd defendant in the matter, equally joined in the suit are; the Clerk of the National Assembly, the Senate; and Chairman of the Senate Committee on Ethics, Privileges and Public Petitions.
Meanwhile, counsel to the plaintiff, Mr. Michael Numa, SAN, maintained that all the parties were duly served, even he drew attention of the court to affidavits of service that are already in its record.
After going through the affidavits of service before court, Justice Obiora Egwatu confirmed that all the defendants were served.
At that juncture, Senator Akpabio’s prayed the court to grant a short adjournment for all the processes to be harmonised.
Following agreement of all the lawyers, Justice Egwuatu adjourned the matter to March 25, even as he ordered the parties to file and exchange all the necessary processes before the date.
It will be recalled that the court had on March 4, issued an interim order that stopped the Senate Committee on Ethics, Privileges and Public Petitions from going ahead with the disciplinary proceeding that was initiated against the Senator Akpoti-Uduaghan.
However, despite the orders of the court, the Committee held its sitting and slammed the plaintiff with a six months suspension.
The plaintiff is among other things, praying the court to declare any action the Committee took within the pendency of her suit, as, “null, void, and of no effect.”
BABANGIDA, HIS MEMOIR, AND HIS CRITICS,
Just in: Tinubu hosts Wike, Fubara, Kyari, others
Why I abandoned APC -El-Rufai
Just in: Terrorists ambush military truck, kill all soldiers on board
Nigerian Dancer, Korra Obidi Attacked with acid, stabbed on stage In UK
Meet Rare Gem 16 Years Old Chiaza, CEO of ‘RUN MARKET PLACE’
-
News23 hours agoVIDEO: WATCH moment RIPCO leaders urge INC to shun violence over Rivers crisis
-
News15 hours agoBREAKING! Fubara to honourably resign or face disgraceful impeachment process
-
News15 hours agoBREAKING: Resign Within 48 Hours Or Face Impeachment, Rivers APC Tells Fubara
-
News9 hours agoPastor Adeboye rejects living beyond a century
-
News16 hours agoFinally , El-Rufai dumps APC, joins new political party
-
News16 hours agoSAD: Ex-Deputy Gov of Kogi state is dead
-
News22 hours agoPalaver scatter CAN as outgoing leader rejects election
-
News14 hours agoBREAKING! Rivers Assembly issues warrant of arrest on RSIEC chairman