Victor EzejaFormer Kaduna lawmaker and human rights activist, Senator Shehu Sani, has asserted that the exit of British energy giant, Shell Plc, Agip and other multinational oil companies from Nigeria would free the country from economic stagnation.
With a tone of concern for the economic prosperity of the country, Sani, who had represented Kaduna Central Senatorial District in the National Assembly, said that after 63 years of gaining political independence, Nigeria was due to start exploring and refining its crude for the benefit of the entire citizens.
Sani, who alluded to what many analysts had described as “economic imperialism” said: “The Exit of Shell, Agip and other Oil multinationals from Nigeria is a great opportunity to decolonise our economy and country. After 63 years of political independence it’s enough time for us to explore and refine our oil.
“Nigeria’s resources should be for the benefit of Nigerians,” the ex-lawmaker stated on his official X handle.
Recall that Shell had last week, announced it had concluded plans to sell off its Nigerian subsidiary, Shell Petroleum Development Company (SPDC) to end its onshore oil operations in the West African nation after almost a century.
The multinational said it will be focusing on deepsea/offshore operations, away from the hassles of oil theft, vandalisation of pipelines and sabotage of other oil and gas infrastructure which has over the years affected oil production output.
READ ALSO: Shell To End Nigerian Onshore Oil Operations, Seals $2.4bn Deal With Renaissance Africa Energy
Some other foreign oil companies in Nigeria such as Exxon Mobil Corporation, Agip, Texaco, Chevron and Total, had also put up their asset for sale. Apart from troubles in the onshore operations, the companies are also keying into the global energy transition agenda which discourages proliferation of fossil fuels.
Reacting to Sani’’s comment, some netizens expressed doubt that the exit of the multinational oil companies would create an opportunity for Nigeria to reach an economic eldorado.
Some said Nigeria has always had a corrupt leadership which like a cancer, had continued to ravage all aspects of the economy.
They contended that with the rot in the system, it will be difficult for the authorities to successfully run the operations.
“The deal makes sense when you have the leadership with the vision to take the country forward,” wrote an X user, Emeka Opara.
“To the uninitiated read up the changes that happened in Iran when they faced down the colonial masters that captured their oil wealth for decades.”
Some said the exit of the multinationals is a reflection of the challenging business environment in the country.
“It is a way of telling investors that Nigeria environment is not good for business, because they (Shell) listed their reasons for leaving the country.”
Another X user, Okenwa Ugada, countered Sani’s submission, stating that the exit of Shell may not be a single factor in boosting Nigeria’s economy if insecurity across the country, high inflation rate and forex crisis were not effective tackled.
“Which investors common you guys should wake up from your dreams and stop decieving your children. Who is ready to invest in a country insecurity is 101% high, no constance electricity, even petrol price is high dollar on a high and still rising. Brother if is u will u invest?,” Ugada stated.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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