NewsNANS Pushes For Nationalisation Of Shell Assets Over 16m Barrels Unaccounted Oil

NANS Pushes For Nationalisation Of Shell Assets Over 16m Barrels Unaccounted Oil

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BEVERLY HILLS, March 12, (THEWILL) – The National Association of Nigerian Students (NANS) has called on the Federal Government to nationalise the assets of the Shell Petroleum Development Company Limited in the country, for allegedly stealing 16 million barrels of crude oil.

Last week, a Federal High Court in Lagos granted an interim mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Ltd accounts.

A mareva injunction is a court order freezing a party’s assets, until the determination of a case involving it.

The order came in a bid to recover the cash equivalent of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd.

However, in a reaction to the alleged oil theft, NANS President, Sunday Asefon, demanded that the Federal Government nationalise Shell sisters companies in Nigeria.

It condemned the alleged sharp practices by Shell that allegedly unlawfully converted and wrongfully appropriated over 16 million barrels of crude oil from the Bonny Oil Terminal through the use of a manipulated and unapproved metering system.

Asefon frowned at the allegations by the indigenous oil firm, declaring that NANS would not take the matter lying low if proven to be the truth.

He said: “16 million barrels of crude oil valued at over $1.2 billion dollars have been alleged to have been stolen in the recent past, thereby denying the government the much needed revenue.

“If these allegations are verified, local companies that are the owners of the oil must be paid back so that the government will get its desired revenue.

“If the companies are repaid the value of the stolen crude, it is expected that the amount will help the government and the indigenous companies to continue to grow the economy and create more jobs for the teeming population of Nigerian youths.”

Asefon said that NANS would continue to support the quest of the Federal Government to raise revenue so that it can discharge its duties and obligations to the Nigerian people.

“We also will support policies of the government to generate and increase its revenue. Without money, the government cannot do much,” he said.

Asefon declared that any act of revenue sabotage is a declaration of war on Nigeria, adding that NANS would intervene on behalf of the Nigerian people.

He warned that NANS could mobilise its members to shut all Shell operations in Nigeria if they did not desist from their alleged sabotage of the activities of indigenous oil companies.

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