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Business News of Thursday, 25 November 2021


FG mulls stiffer penalties for oil firms

The Minister of Environment, Sharon Ikeazor, The Minister of Environment, Sharon Ikeazor,

The federal government is considering stiffer punishments for companies involved in oil spillage in some parts of the country.

The Minister of Environment, Sharon Ikeazor, who dropped the hint on Thursday November 25,2021 at the weekly ministerial press briefing organized by the presidential media team at the State House, Abuja, said her ministry is engaging other relevant government agencies to achieve this.

According to her, a bill is being worked out to amend the law establishing the National Oil Spillage Detection and Response Agency (NOSDRA) to build its capacity and give it “the needed teeth to bite”.

She said the operating company of the OML29 in Nembe, Bayelsa State has blamed the most recent oil spillage in the country on sabotage by the natives.

Ikeazor also announced that the Santa Barbara spillage has been brought under control after more than three weeks after the incident occurred with necessary personnel and equipment deployed to begin recovery and remediation efforts.