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Shell records major victory in S’Court over moves to sell multi-billion dollars assets in Nigeria

The Supreme Court of Nigeria has upheld an appeal by Shell Plc’s local unit against a ruling related to a pollution case that has prevented the oil major from selling billions of dollars of assets in the country, people with knowledge of the matter said.

Shell Petroleum Development Company of Nigeria Ltd. was issued a court order in 2022 preventing it from divesting the assets pending the outcome of the case. Its parent company subsequently paused the disposal of its onshore oil operations.

Full details of the judgment, which was issued verbally on Friday, will be set out in writing in seven days, the people said, asking not to be named before the ruling was published.

SPDC holds 30% of a joint venture in Nigeria, with the state oil company among other shareholders.

“We note the Supreme Court’s judgment on SPDC’s appeal,” a spokesperson for the unit said in response to questions. SPDC is “currently assessing its implications.”

Mohammed Ndarani Mohammed, a lawyer representing the plaintiffs, said he would read the ruling before deciding whether to comment.

Related Topics:assets Dollars Major MOVES MultiBillion Nigeria records SCourt Sell Shell victory

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Reactions As Obi Cubana Lays Hands On Pastor Odumeje (Update) – Lifestyle Nigeria

A recent encounter between popular pastor, Odumeje, and billionaire businessman, Obi Cubana, has generated mixed reactions online. The clergyman, fresh from his London trip, was seen mingling with several high-profile personalities at an event, where he shared a moment with Obi Cubana that has raised eyebrows.

Amidst the loud music, the two were spotted exchanging words, but it was Obi Cubana’s gesture of placing his hand on Odumeje’s head that has sparked curiosity. Netizens have been left wondering about the significance of this action, with some speculating about the nature of their relationship.

SEE the Update below;

While some have interpreted the gesture as a sign of respect or blessing, others have raised questions about the appropriateness of such a display between a clergyman and a businessman. The unusual display has set tongues wagging, with many seeking clarity on the context and meaning behind this peculiar encounter.

Read some netizens reactions below;

@Frisky: Obi Cubana wan test him Abido Shaker him buy on the seller

@Audjai4: WTF ! Abido is now shaking ????????????

@Olamijuwon1007: In whatever you do, just don’t be poor.Have money ooo????????????

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Alleged N3bn Scam: APC Governor Orders Release Of PDP Spokesman From Detention – Lifestyle Nigeria

The Governor of Ebonyi State, Francis Nwifuru has directed the immediate release of Mr. Chima Nwoba, the Publicity Secretary of the Peoples Democratic Party (PDP), from detention.

This directive was conveyed during a Holy Mass at the Government House Chapel in Abakaliki on Sunday.

In his address, Governor Nwifuru instructed the Commissioner for Commerce and Industry, Mr. Oguzor Offia-Nwali, to exercise leniency and consider withdrawing the case against Chika Nwoba.

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NAFDAC Denies Sugary Nestle Baby Formula Sold in Nigeria

The National Agency for Food and Drug Administration and Control (NAFDAC) on Sunday said infant formulas by a food and beverage company giant, Nestle, alleged to contain sugar and honey are not registered and not sold in Nigeria.

NAFDAC disclosed this in a statement signed by its management.

Findings by Swiss investigative organisation, Public Eye, and the International Baby Food Action Network, alleged that two of the best-selling baby-food brands marketed by Nestlé in low- and middle-income countries contain high levels of added sugar, while such products are sugar-free in their home country, Switzerland.

The Public Eye and IBFAN scrutinised around 150 products sold by the food giant in lower-income countries and found that almost all the Cerelac infant cereals examined contain added sugar – nearly 4 grams per serving on average, equal to roughly a sugar cube – although they are targeted at babies from six months of age. The highest amount – 7.3 grams per serving – was detected in a product sold in the Philippines.

They also said most of the Nido powdered milk products for young children from one to three years old examined also contain added sugar – almost two grams per serving on average. The maximum value (5.3 grams) was detected in a product sold in Panama.

They, however, added that in Switzerland and Nestlé’s main European markets, such products are sold without added sugar.

NAFDAC, in a statement titled ‘Nestle adds sugar to infant milk sold in poorer countries: NAFDAC’s response,’ however, noted that the agency exercises due regulatory diligence in the registration of infant and young children foods distributed and used in Nigeria in line with relevant Codex Alimentarius international food standards, and more specifically, Nigerian Industrial Standards.