30 November 2014, Abuja — The House of Representatives has directed Shell Nigeria Exploration Company, SNEPCo, to pay the sum of $3.6 billion or N604.832 billion for the damages caused by oil spill from its equipment failure almost four years ago in Bayelsa State
The House Committee on Environment gave the directive during an investigative public hearing Wednesday , citing the breakdown of an independent value analysis it adopted, which totalled N63.6 billion, payable for direct losses (irreversible damages) the community incurred.
According to the analysis: N103.192 billion is for loss of income; N85.785 billion is for water provision while N27.399,520,512 is for forestry and NTFP.
For the indirect losses, SNEPCO is to pay N14.350 billion for health hazard; N8.089 million is for injurious affection while the sum of N302.416 billion is for punitive damage.
*Muhammad Bello – Thisday