Financial Energy Review
Oil major, Shell Petroleum Development Company of Nigeria (SPDCN) on Wednesday agreed to pay the sum of N45.9 billion compensation to some Ogoni communities of Rivers state ravaged by oil spills some years ago.
The monetary compensation, which was ordered by a Federal High Court in Lagos about ten years ago, is to be paid to the affected communities through their lawyer, Lucius Nwosu (SAN).
SPDCN’s lawyer, Aham Ejelamo (SAN) on Wednesday, told a vacation judge of the Federal High Court in Abuja, Justice Ahmed Mohammed that his client has resolved to pay the money to the affected communities.
Earlier, Ejelamo had urged the court to direct that the money be paid through the Chief Registrar of the court in a bank account to be opened for the purpose.
It was later agreed that the money is paid to the affected communities through their lawyer, Nwosu.
Justice Mohammed then proceeded to make an order endorsing the payment by SDPCN.
The money was awarded as damages against SPDCN in favour of the Ogoni communities on June 14. 2010 by Justice Ibrahim Buba (then of the Federal High Court, Lagos) in a suit by the representatives of the communities, led by Chief Isaac Osaro Agbara and nine others.
The plaintiffs were said to have agreed to waive the interest on the principal judgment sum as a concession agreed upon during talks leading to the final reconciliatory agreement.
In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state…Shell Petroleum agrees Shell Petroleum agrees
