President Bola Ahmed Tinubu has been called upon to reverse the decision to approve the divestment of international oil companies (IOCs) allegedly to the Renaissance Consortium.
Representatives of Nigerian society organisations, community leaders and concerned citizens, in a petition to the National Assembly, maintained that the measure constitutes a threat not only to the people of the Niger Delta but also to the environmental and economic interests of Nigeria and the social future of all Nigerians.
Led by Rev. Nnimmo Bassey of the Health of Mother Earth Foundation (HOMEF), the group particularly frowned upon the proposed sale of remaining shares in Shell Petroleum Development Company (SPDC) to the Renaissance Consortium.
The group, which stormed the National Assembly complex to submit their petition to both the Senate and the House of Representatives, contended that the proposed sale and similar divestment efforts by companies like TotalEnergies would undermine national interests.
They noted it is unfortunate that President Tinubu allegedly succumbed to pressure from Shell and its home government by ordering the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) to approve Shell’s sale of its remaining shares in SPDC to the Renaissance Consortium.
The group called on the National Assembly to prevail upon President Tinubu to respect the voice of the people and halt all further IOC divestment requests until significant matters of national concern are addressed.
They thereby urged President Tinubu to immediately halt all divestment processes until a transparent, comprehensive, and inclusive review is undertaken to address Shell’s and TotalEnergies’ historical environmental and social liabilities.
The group also stressed the need for inclusive and transparent consultation with state governments and the people of oil and gas extraction sites in the Niger Delta before any further divestment of IOC assets.
Among other demands, they insisted that Shell, TotalEnergies, and all other IOCs must be held accountable for their past and ongoing environmental damage and ensure they fund a full cleanup and remediation program across the Niger Delta.
Stressing the need to uphold the regulatory independence of NUPRC and allow it to fulfil its statutory duties without political interference, they demanded respect for the resolution of the National Assembly, which called for a halt to all divestments by international oil companies in Nigeria.
They added: “Ensure that new operators are properly vetted and committed to responsible environmental management and community welfare. Create an Environmental Restoration Fund that is sufficiently funded to meet the full and complete costs of environmental cleanup and reparations, based on credible estimates by independent international experts, and contributed to by Shell, TotalEnergies, and other international oil companies and future operators to address the long-term damage caused by their operations.
“Provide community profit-sharing opportunities for host communities as part of any divestment agreement, ensuring that the local people benefit from the oil resources they have hosted for decades. Mandate full disclosure of all environmental liabilities before divestment, requiring Shell, TotalEnergies, and any future operators to publicly declare and address all damages.
“Include gas flaring cessation and decommissioning plans in any divestment agreement, with clear timelines for ending harmful practices. Account for carbon emissions related to the divested assets and propose mitigation plans that align with Nigeria’s climate commitments.”
The coalition includes Dr. Isaac ‘Asume Osuoka – Social Action Nigeria; Olanrewaju Suraju – HEDA Resource Centre; Emem Okon – Kebetkache Women Development and Resource Centre; Akinbode Oluwafemi – Corporate Accountability and Public Participation Africa (CAPPA); Taritein Boco – Bayelsa NGOs’ Forum (BANGOF); Isa Sanusi – Amnesty International; Zion Kientei – Young Change Makers Development Initiative (YORDI); Idoreyin Bassey – League of Queens International Empowerment; Tijah Bolton-Akpan – Policy Alert; Ken Henshaw – We the People; Rita Uwaka – Environmental Rights Action/Friends of the Earth Nigeria; David Ugolor – Africa Network for Environment and Economic Justice (ANEEJ); Mfon Utin – Healthy Life Development Initiative; Comr. Cynthia Buluebiere Bright – Gbolekekro Women Empowerment and Development Organization (GWEDO).
