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Why Shell assets should be nationalised’

Two youth groups, Ethnic Youth Leaders and Patriotic Youth Organisation, have urged the Federal Government to sanitise the oil and gas industry and nationalise Shell Petroleum Development Company (SPDC) Ltd assets in the country.

A Federal High Court in Ikoyi, Lagos on January 25 directed commercial banks to block SPDC and its subsidiaries accounts in a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd.

The Patriotic Youth Organisation of Nigeria, in a suit numbered FHC/ABJ/CS/252/2021 prayed the court to order the Federal Government “to expropriate, nationalise and take over all assets, investments and interests of Shell found anywhere or traceable within the Federal Republic of Nigeria.”

Apart from SPDC, the other defendants in the suit are the Federal Government; the Attorney-General of the Federation, Royal Dutch Shell Plc, Shell Western Supply And Trading Ltd, Shell International Trading and Shipping Company Ltd and Shell Exploration And Production Company Ltd.

No date has been set for the hearing of the matter.
Speaking on behalf of the Ethnic Youth Leaders, the President of Middle Belt Youth Council, Godwin Meliga pledged “total support to the President Muhammadu Buhari economic agenda and anti-corruption stand.”

The group commended DPR Director Auwalu Sarki for “insisting that the right thing must be done” by firms operating in Nigeria’s oil sector.


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