Move Would Allow Company to "Leave Devastation Behind and Walk Away without Consequence"
HOMEF, Social Action Nigeria, HEDA Resource Centre and Kebetkache Women Development and Resource Centre
16 December 2024
A proposed sale of Shell’s shares in the Shell Petroleum Development Company (SPDC) to the Renaissance consortium, alongside similar divestments by TotalEnergies and other oil companies, threatens the environmental and social well-being of the Niger Delta and its people for generations to come, warned a letter from Nigerian groups released on 16 December 2024.
The World Bank has invested almost a quarter of a billion dollars in Seven Energy, an oil and gas company operating in Nigeria. Months before the first investment was made, the then Governor of Nigeria's Central Bank alleged that the company's flagship contract involved operating a scheme that was looting billions of dollars in state revenues. A number of the people associated with the contract are now either on the run or charged with money laundering.
