CSOs Petition Tinubu, Akpabio, Abbas Over Planned IOCs’ Divestment

A coalition of Civil Society Organizations (CSOs) has submitted a petition to President Bola Tinubu, Senate President Godswill Akpabio and Speaker Abbas Tajudeen, calling them to immediately halt all divestment of oil assets initiated by international oil companies operating in the Niger Delta region.

Programme coordinator, Social Action Nigeria, Isaac Botti and Founder of Health of Mother Earth Foundation (HOMEF),  Nnimmo Bassey, while briefing parliamentary reporters in Abuja on Thursday, said the petition titled ‘Urgent call to halt all Divestment in the Niger Delta,’ including Shell’s refused sale of SPDC shares was separately sent to Tinubu and presiding officers of the National Assembly.

They expressed grave concerns over the fate of millions of Nigerians impacted negatively by the exploration of crude oil across the oil-producing communities and the environment.

“We are here as representatives of Nigerian society organisations, community leaders, and concerned citizens to address a grave and urgent issue that threatens not only the people of the Niger Delta but the environmental and economic interests of Nigeria and the social future of all Nigerians.

“We are, again, compelled to raise our voices against the ongoing and potentially catastrophic divestment process by International Oil Companies (IOCs) operating in the Niger Delta, particularly Shell’s proposed sale of its remaining shares in Shell Petroleum Development Company (SPDC) to the Renaissance consortium.

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“This proposed sale and similar divestment efforts by companies like TotalEnergies would undermine national interests, as we have communicated in the past and as the House of Representatives acknowledged.

“A few days ago, we were alarmed to learn that President Bola Tinubu, under pressure from Shell and their home government, has ordered the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) to approve Shell’s sale of its remaining shares in SPDC to the Renaissance consortium. Despite the NUPRC’s initial rejection of this sale based on legitimate concerns, President Tinubu appears to be moving swiftly toward approving these divestments, bypassing the valid and urgent concerns raised by the National Assembly and the Nigerian people.

“That is why we are calling on the National Assembly to prevail on President Tinubu to respect the people’s voice and halt all further IOC divestment requests until significant matters of national concern are addressed.

“The experiences from past asset sales by Shell, ENI/AGIP, ExxonMobil, and other IOCs have demonstrated a disturbing trend of companies walking away from their environmental responsibilities. In particular, Shell’s divestment of Aiteo in Nembe – this divestment has resulted in unresolved pollution, with no comprehensive plan for addressing the environmental damage caused by years of oil extraction.

“Instead of remediating the pollution, the new operator, Aiteo, has failed to act on the urgent need for cleanup, and the environmental situation has only worsened. In some instances, ExxonMobil’s sale of assets has led to an inadequate transfer of responsibility for remediation to new operators, who were not equipped to manage the contamination left behind.

‘We ask Mr President to ensure that the immediate financial interests of a few multinational corporations and local profiteers do not outweigh the health, future, and survival of millions of Nigerians who have suffered for decades. President Tinubu must safeguard the future of Nigeria, ensuring that all its people, especially those in the Niger Delta, are not sacrificed for the benefit of global capital and a few local profiteers.

“We call on the National Assembly to continue its advocacy for the people of the Niger Delta, ensuring that the financial interests of multinational corporations do not undermine the country’s national interest.

“By halting Shell’s, TotalEnergies’, and any other IOC divestments and demanding accountability, the government will send a powerful message that Nigeria’s sovereignty and the welfare of its citizens are paramount,” the CSOs added.