Petroleum Africa
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Friday, August 13, 2021
The Nigerian unit of Royal Dutch Shell, Shell Petroleum Development Company (SPDC), has agreed to pay N45.9 billion ($110.9 million) to the Ogoni people of Rivers State as compensation for oil spills in their communities.
The court also granted the Ogoni chiefs a 25 percent interest charge on the principal sum of about N17 billion. The original lawsuit dates back to 1991. In 2010, a federal court ordered Shell to pay N17 billion for damages and Shell subsequently challenged the decision on multiple occasions, resulting in the accrued interest.
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