Breaking News
Translate

Shell remits $31bn to federation account, NDDC —GM

Port Harcourt— Shell Petroleum Development Company, SPDC, remitted $29.8 billion to the Federation Account and $1.2 billion to Niger Delta Development Commission, NDDC, between 2002 and 2016, the oil firm has said.

General Manager, External Relations, of SPDC, Mr Igo Weli, made the disclosure, yesterday, in Port Harcourt, Rivers State while reacting to the shut-down of SPDC flow station and gas plant in Belema community by youths.

The youths accused the company of neglecting them and marginalising their community.

Addressing newsmen, Weli said the seizure of the company’s facilities by the youths will not only send wrong signal to the international community, but was capable of discouraging further investment in the Niger Delta.

He said: “People are having high expectations from SPDC, they forget the company is not government and does not have the resources to solve world hunger.  SPDC has made several efforts to sensitise the people on how our business is run, so that their expectations can be realistic and align with realities of how we run our business.

“The business we do add value in several ways through contributions to the federation account and the NDDC. Between 2012 and 2016, SPDC JV contributed $29.8 billion to the federation account which flows down to the state governments, local governments and the communities.”

 

 

 

 


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.