Economy
Oil Spill: Dutch Court Orders Shell to Pay Nigerian Farmers
By Modupe Gbadeyanka
A court in the Netherlands has directed an oil giant, Shell Nigeria, to compensate four farmers who instituted a suit against the company over oil spills.
The case was filed in 2008 and the plaintiffs said Shell contaminated their soil, making it impossible for them to earn a living from their work because of the oil spills.
According to reports, the spills occurred between 2004 and 2007 in three villages in the region; Goi in Rivers State, Ikot Ada Udo in Akwa Ibom State, and Oruma in Bayelsa State).
But the oil firm blamed saboteurs for the leaks in the underground oil pipes that polluted the ecosystem in Niger Delta, where most oil activities take place.
Shell argued that it should not be held legally responsible in the Netherlands for the actions of a foreign subsidiary, Shell Nigeria.
But the court held that the British-Dutch parent company of the energy company can be held liable for any action carried out by its subsidiary, ordering the firm to issue payouts to the farmers.
According to the Court of Appeal in The Hague on Friday, “Shell Nigeria is sentenced to compensate farmers for damages,” though the exact amount of compensation was not stated. This will be established at a later date.
It is believed that today’s ruling will open a floodgate of cases against international oil companies operating in the oil-rich Niger Delta region of Nigeria.
Recall that a few days ago, the assets of First Bank, a big lender in Nigeria, was taken over through a court order because of bank guaranteed the damages now worth N182 billion awarded by a Rivers State High Court against Royal Dutch Shell Plc about 10 years ago.
The case was also about oil spills that occurred in Rivers State about 50 years ago as the pipelines belonging to Shell were said to have spilled their contents in the waters of Ejama Ebubu community, affecting the living things in the water.
The community took the matter up but the oil company did not claim responsibility for the spill because it said it was caused by “third parties”, noting that it had already cleaned up the affected sites.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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