Multinational oil company, Shell Petroleum Company, has agreed to pay N45.9billion to the Ogoni people of Rivers State for the losses they had suffered from oil spillage that ravaged their communities.

This comes 10 years after a Federal High Court ordered the company to pay the compensation. Daily Post reports that it will be paid to the Ogonis through their lawyer, Chief Lucius Nwosu.

Shell Petroleum Company through its lawyer, Chief A. O Ejelamo, a Senior Advocate of Nigeria, announced the decision to pay up the money while addressing Justice Ahmed Ramat Mohammed of the Federal High Court, Abuja, on Wednesday.

The senior lawyer sought the order of Justice Mohammed to permit payment of the debt through the Chief Registrar of the court in a bank account to be opened for the purpose.

The final decision to pay up the money was endorsed by Justice Ahmed Ramat Mohammed of the Federal High Court, Abuja.

Although the oil company had sought to pay through the Chief Registrar of the court, it was eventually agreed that the amount be paid to the aggrieved people through their lawyer.

The amount was awarded in favour of Ogoni people by Justice Ibrahim Buba of the Lagos division of the Federal High court on June 14, 2010 in his judgment in a suit filed by the Ogoni people.

However, the Ogonis waived the interest on the principal amount as concession agreed upon during reconciliation.

Fahdiga:
Nice one but it is more loots for Ogoni leaders. No tangible development will come with this billions rather they will spend it on Paraga and women and later will start wailing and waiting for the next payment. Niger delta suppose rival Dubai in terms of development but alas nothing to write home about the oil rich region