RSG promises to protect Shell investments

Multi-national oil giant, Shell Petroleum Development Company (SPDC) on Monday received firm assurance from the River State government that it would continue to protect the company’s investment in the state.

The governor of the state, Barrister Nyesom Wike, gave the assurance when he granted audience to the House of Representatives Ad hoc Committee on SPDC Relocation in Government House on Monday.
The governor said that there was no need for the SPDC to relocate out of Rivers State, as the action would negatively affect the economy of the state and Nigeria.

Governor Wike said: “If anything happens here, it will have negative social implications. The relocation will not just be a loss for Rivers State, it will be a loss for Nigeria. The negative impact it will have on the Niger Delta and Nigeria will outweigh whatever challenges that Shell is facing.”

The governor said that his administration was always willing to take measures to ensure that businesses boomed in the state.
He told the House of Representatives members that investments in the security framework of Rivers State prevented sabotage of major national economic assets.
“I thank the Speaker of the House of Representatives and members of the Ad hoc Committee on SPDC Relocation for taking measures to stop the relocation of SPDC,” Governor Wike said.

Still debunking claims by the Ministry of Finance that they released N34billion to Rivers State Government as the Paris Club Refund, the governor said that the Federal Government released N14billion as Paris club Refund to Rivers State. According to him, after protests that the state had been short-changed , the Federal Government released another N3billion to the state, totaling N17billion.

Earlier, the chairman of the House of Representatives Ad hoc Committee on SPDC Relocation, Hon. Ibrahim Isiaka, said that it was necessary to stop relocation of SPDC because of the effect it would have on the Niger Delta economy.

Hon. Isiaka said that the committee was set up following a motion moved by Hon. Kingsley Chinda and praised Governor Wike for his developmental efforts which, he said, had transformed Rivers State.