Shell got fresh assurances on protection of its investments in Rivers State on Monday, from the Rivers State governor, Nyesom Wike. The governor has also debunked claims by the federal minister of finance that the state got N34 billion from the Paris loan refund, saying he saw N17 billion only.
Rumours sprang up earlier in the year that Shell was considering moving its corporate headquarters back to Lagos from Port Harcourt. Governor Wike reacted by reporting them to the National Assembly where a motion rang out asking Shell not to. Shell officials had washed their hands off the rumour, but the state government believed its sources.
Apart from the motion, the House of Representatives set up a high-powered ad-hoc committee to intervene in the rumoured relocation matter. The Acting President Yemi Osunbajo, after a visit to Port Harcourt earlier this year, appealed to oil majors to relocate to the oil region, an action seen as directed at Shell not to relocate.
It is not clear what the national parliament did on the matter, but Wike said: “I thank the Speaker and members of the Ad hoc Committee on SPDC Relocation for taking measures to stop the relocation of SPDC,” an indication that the matter was more than rumour.
Now, the governor told the House panel that there was no need for the SPDC to relocate out of Rivers State, saying the action would negatively affect the national economy. He did not unbundle the loaded statement, except to suggest that probable chain of reactions could turn violent and disrupt oil installations in the state.
Wike said: “If anything happens here, it will have negative social implications. The relocation will not just be a loss for Rivers State; it will be a loss for Nigeria. The negative impact it will have on the Niger Delta and Nigeria will outweigh whatever challenges that Shell is facing.”
The governor said that his administration was always willing to take measures to ensure that businesses thrive in the state. He told the House of Representatives that investments in the security framework of Rivers State led to the state not witnessing the sabotage of major national economic assets.
The governor used the platform of the visit of the House of Reps members to hit at the Ministry of Finance, which had allegedly listed Rivers State as receiving N34 billion from the Paris loan refund programme.
The governor revealed that the Federal Government released N14 bilion to the state but had to release another N4 billion after some protests from Rivers State.
Earlier, the chairman of the House of Representatives committee, Ibrahim Isiaka, said it was necessary to stop relocation of SPDC because of the effect it would have on the Niger Delta economy. He said the committee was set up following a motion moved by a member, Kingsley Chinda.
Ignatius Chukwu
