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The Federal Government is demanding $406.75 million at the minimum from the Shell Petroleum Development Company (SPDC) and its surrogate Shell Western Supply & Trading Limited for alleged crude oil theft.

The amount, according to court papers in Lagos, represents the shortfall of the money paid by the multinational oil firm in the account of the Nigerian government with Central Bank of Nigeria (CBN), for crude oil lifted in 2013 and 2014, reported the News Agency of Nigeria (NAN) yesterday.

The federal government’s legal team led by Professor Fabian Ajogwu accused the Anglo-Dutch oil multinational of not declaring or under-declaring crude oil shipments during the period, following a forensic analysis of bills of lading and shipping documents.

Ajogwu, armed with sworn affidavits of three U.S.-based professionals, claimed that Shell cheated Nigeria of the revenue.

The three professionals employed by the federal government are: Professor David Olowokere, a U.S. citizen who is the lead analyst at Loumos Group LLC, a technology and oil and gas auditing firm based in U.S.; and Mr. Jerome Stanley, a counsel in the law firm of Henchy & Hackenberg, a law firm based in U.S. and head of the legal team engaged by Loumo Group LLC.

The third professional is Mr. Micheal Kanko a citizen of the U.S. and resident of the state of Arizona, who is the founder and current chief executive of Trade Data services Company.

The experts were able to track the global movements of the country’s hydrocarbons, including crude oil and gas, with the main purpose of identifying the companies engaged in the practices that led to missing revenues from crude oil and gas export sales to different parts of the world.

In reconciling the export records from Nigeria, with the import records at ports in the United States of America, the experts found mind-boggling discrepancies.

The Nigerian government averred, for instance, that on the 6th of January 2013, the defendants lifted crude oil using the vessel AUTHENTIC and shipped same to BP Oil Supply of 28301 Ferry Road, Warrenville, Illinois, USA at the port of Chester, Pennsylvania, United States of America.

The shipment had the bill of lading number ALMYSVDM161212A3. This particular shipment, the experts unearthed, was not declared to the relevant authorities in Nigeria, resulting in a shortfall of 660,712 barrels of crude oil in the value of $72,678,320 as revenue to the Government of Nigeria.

On the 3rd of January 2013, Shell and its surrogate company lifted crude oil that resulted in a shortfall of 979,031 barrels in the value of $107,693,410.

On the 14th of December 2014, Shell also lifted crude oil using the vessel EAGLE TUSCON and shipped same to Shell Deer Park of 5900 Texas 225, Deer Park, TX77536, USA at the port of Houston, Texas, United States of America, with bill of lading number AETK0909US14.

The shipment was not declared to the relevant authorities, resulting in a shortfall of 499,048 barrels of crude oil in the value of $54,895,280 as revenue to the Nigerian Government.

Shell, with its allied company, was also alleged at three different times to have shipped crude on board EAGLE TUSCON, EAGLE SEVILLE and OVERSEAS EVERGLADES that resulted in a shortfall of 3,697,737 barrels of crude oil, bringing the total value of the shortfall to $406,751,070.

BIG STORY

Tribute To My Boss, HM Dele Alake At 68 — By Segun Tomori

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When I was privileged to be offered an appointment by the Minister of Solid Minerals Development, Dr. Dele Alake in October, last year, I was thrilled to have the opportunity to tap from his immense wealth of experience and depth of knowledge, spanning over four decades in private and public service.

I had been enamoured by Dr. Alake since his name, alongside that of President Bola Tinubu, became a recurring decimal in the struggle for the actualization of the annulled June 12, 1993 Presidential elections.

He had carved a niche for himself as a renowned political strategist, communications and public relations juggernaut that not only gave verve to the pro-democracy struggle but later became one of the leading lights of Asiwaju Tinubu’s transformational leadership as Governor of Lagos.

Dr. Alake’s role in the presidential campaigns that culminated in President Tinubu’s ascendancy is already public knowledge as it will be recalled he fired from all cylinders to defuse the propaganda of the opposition as Media Adviser, superintending over the media and communications directorate of the APC Presidential Campaign Council (PCC).

Having watched him closely as a member of the then Strategic Communications Directorate of the same PCC, I was captivated by his grit, grasp of issues and the impeccable intellect with which he dissected issues and marshalled our campaign’s arguments.

Asides from giving me a free hand to excel in my role, he has been a mentor that has helped to hone my skills. Under his tutelage, I have grown to become a better communications professional in barely one year.

Today, Alake’s vision has given rise to a 2,570-strong mining marshals leading the charge to secure the mining environment; revised guidelines for Community Development Agreements (CDA); revocation of dormant mining licenses and those that defaulted in payment of annual service fees; the launch of the innovative online platform, the Decision Support System (DSS) that aids investors’ access to information about Nigeria’s mining sector, enabling them with a click of a button to make informed decisions about investing in Nigeria’s mining sector.

Efforts have reached an advanced stage to establish the largely private sector driven Nigeria Mining Corporation alongside the amendment of the 2007 Nigeria Minerals And Mining Act (NMMA) in collaboration with the National Assembly to back reforms with requisite statutes.

We have also seen novel engagement with sub-nationals that has led to reduction of conflicts through his principle of cooperative federalism. In deference to Alake’s vision, several states have applied and obtained licenses to participate actively in the mining sector and operate as Limited Liability Companies.

As you celebrate your 68th birthday, I want to express my gratitude for your unwavering dedication to our country, the President, and the solid minerals sector.

Your infectious zest and passion for transforming the hitherto neglected mining sector has captured global attention, and we are all motivated to support your vision of making solid minerals a leading contributor to our nation’s GDP.

Happy Birthday, “Prime Minister”. 68, hearty cheers. Many happy returns, sir.

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BIG STORY

President Tinubu Congratulates Dele Alake On 68th Birthday

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President Bola Tinubu congratulates the Minister of Solid Minerals Development, Dele Alake, on his 68th birthday.

President Tinubu celebrates his long-time ally, buddy, brother and invaluable partner for his support throughout his political journey as Senator, Governor of Lagos State, Presidential candidate and President of the Federal Republic of Nigeria.

The President says he cherishes working closely and collaboratively with Alake in more than three decades.

The President thanks Alake for his candid counseling and unwavering support, which have provided invaluable guidance during challenging times in public office.

He notes that Alake’s staying power in the various roles he has handled in his lifetime has been rooted in his honesty, passion, tact, determination and exceptional public relations.

President Tinubu is confident that the Minister will continue to uphold his high standards of excellence in service to the nation.

He joins family, friends, and well-wishers in offering prayers for Alake’s continued success and well-being.

 

 

 

 

 

 

 

 

 

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BIG STORY

Local Government Election Holds In Rivers Despite Police Absence [PHOTOS]

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The local government election in Rivers State is currently underway, notwithstanding the notable absence of police personnel to oversee the process.

Sources reveal that sensitive materials have been successfully distributed across various local government areas.

Governor Siminalayi Fubara remains resolute in his determination to conduct the election, despite escalating tensions within the state.

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