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Shell provides $1 billion financing for development of Niger Delta

14 Feb 2017, 05:21 pm
Financial Nigeria
Shell provides $1 billion financing for development of Niger Delta

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- The fund would be used for the provision of portable drinking water, health impact assessments and remediation technologies for halting environmental damages, especially in Ogoniland. 


Nigerian Acting President, Yemi Osinbajo, announced on Monday that the Federal Government has secured funding in excess of $1 billion from Shell Petroleum Development Company (SPDC) for development of the Niger Delta region. Osinbajo made the statement at a town hall meeting in Port Harcourt, Rivers State.

The Acting President said the funding would be made available over a period of five years, with $200 million provided annually. The fund would be used for the provision of portable drinking water, health impact assessments and remediation technologies for halting environmental damages, especially in Ogoniland.

“Environmental remediation is important throughout the entire region,” Osinbajo said at the event attended by governors, ex-governors, community heads, youth groups and indigenes.
    
Osinbajo condemned the neglect of the Niger Delta despite its wealth of resources, adding that the non-fulfilment of promises to the region must cease. This, he said, underlines the importance given to the clean-up of Ogoniland by the current administration. Osinbajo cited the initiation of a governing council in August 2016 and a board of trustees in January 2017 as measures taken by the FG to prioritise the clean-up of Ogoniland.

He also revealed that the government plans to fuel growth and generate employment opportunities in the region through support of small and medium scale businesses.

“Training of 2,000 women from four local government areas in greenhouse, shrimp, and poultry farming for empowerment will commence soon,” he added.

The Vice President stated that infrastructure development in the region would include a ground-breaking for the erection of the International Centre of Excellence, run by the Centre for Biodiversity, Climate Change and Watershed (ICBCW) to foster research, training and education in the Niger Delta. Developing thermal power stations, coal-powered refineries and addressing the challenges of petro-chemical plants in the region are major areas of concern to the government, Osinbajo revealed. He said infrastructure obtainable in the region should rival those built in oil communities across the world.

The Shell Petroleum Development Company is no stranger to the fatal disruptions that have taken place in the region, such as militant attacks on the company’s pipeline facilities in recent times. In July, 2016, its crude oil trunkline was bombed by suspected militants in Batan community, Warri SE council area of Delta State.

Osinbajo also revealed that the FG is keen to continue interactions on the amnesty programme for ex-militants.

“I have made notes, I have listened carefully; this will be a beginning that will change the narrative of the Niger Delta,” he added.


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