News
“We’re Active in Delta State,” Shell
Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC Joint Venture, has restated its active presence in Delta State against the belief in some quarters that the multinational energy firm has pulled out of the state.
As a proof of its significant footprints in Delta State, the company said it has implemented wide ranging projects in different parts of the state, including the disbursement of N1.88 billion to Global Memorandum of Understanding (GMoU) clusters in host communities and the establishment of a Professorial Chair at the Federal University of Petroleum Resources, Effurun (FUPRE).
Igo Weli,SPDC’s general manager External Relations, said this at the presentation of the company’s 2018 Briefing Notes to journalists in Warri last Thursday where he said the company recently donated N600 million facilities to five schools under a Youth Sports and Athletics Development Project (YSADP,) to mark Nigeria’s centenary anniversary.
“These projects show our continuous presence and interest in the development of Delta State,” said Weli who was represented by the company’s Head of Community Interface, Evans Krukrubo. “While it is true that SPDC divested from a number of assets in Delta State in line with our business strategy, and in support of the participation of more Nigerian companies in the oil and gas industry, we are still active in the state, for example, operating Forcados Terminal, flow stations, gas plants and a network of pipelines. There is no better way to relay this message than undertaking projects and initiatives that are helping to rebuild lives and communities in the state.”
The GMoU funding covers the three clusters currently active in Delta State since the inception of the concept in 2006. The Cluster Development Boards (CDBs) like their counterparts in other parts of the Niger Delta, are implementing health and educational projects among others.
The centenary project in Delta State which was inaugurated this month includes the development of an athletic curriculum by Africare, an international NGO, using the American National Collegiate Athletic Association standards, the provision of facilities for long/triple jump, high jump, shot put, javelin, discus and hammer throw in five schools as well as the construction of a 400m six-lane rubberised track at Government College, Ughelli. These facilities have been installed at the highest standards. A key component of the project was the inclusion of 283 athletic and leadership training sessions, academic performance tracking and mentoring. A total of 150 students from across the five project schools benefitted from the leadership programme. Delta State Governor, Senator Ifeanyi Okowa had said that the project marked a major turning point in the lives of students and communities.
The Professorial Chair in Light Weight Automobile Engine Development was activated at FUPRE in December last year and is the latest of six established by SPDC JV. The Chair at Effurun is expected to contribute to the growth of local content in Nigeria’s automobile industry. In a bid to boost employment especially among youths, more than 700 young men and women benefited from Shell’s LiveWIRE initiative between 2003 and 2017. Also, a total of 160 students from Delta State have received the SPDC flagship Cradle-to-Career scholarship awards since they were instituted in 2010. The programme offers fully-funded six-year awards for children from rural communities to attend some of Nigeria’s top secondary schools
Mr. Weli added: “SPDC JV is always prepared and willing to contribute its quota to the development of its host communities in close collaboration with other stakeholders. It is however, necessary for communities to help create a conducive atmosphere to attract and retain investments in the Niger Delta. Violence, vandalisation of pipelines and other anti-social behaviours will not only discourage investments but also impede the holistic development we badly need in the Niger Delta.”
Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
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