Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Bitcoin Price Slides to $59k as US Inflation Stokes Selloffs

    June 25, 2026

    Only 20% of POS Operators Registered- CAC Chairman

    June 25, 2026

    FG Finally Hands Over Enugu Airport to Concessionaires

    June 25, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Bitcoin Price Slides to $59k as US Inflation Stokes Selloffs
    • Only 20% of POS Operators Registered- CAC Chairman
    • FG Finally Hands Over Enugu Airport to Concessionaires
    • We’re Rebuilding Abuja, Building Trust, Restoring Hope in Governance – Tinubu
    • FG Signs 2026 Performance Pact to Promote Investment, Trade Expansion
    • Aradel, Wema Bank Drop, Investors Lose N959bn as NGX Index Tanks
    • Can Digital Leisure Spending Reshape Africa’s FX Demand Patterns?
    • CBN Orders Banks to Freeze Assets of Individuals, BDCs Linked with Terrorism Financing
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, June 25
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Oil Spills: It’ll Cost $12bn to Clean Up Bayelsa – Report

    Oil Spills: It’ll Cost $12bn to Clean Up Bayelsa – Report

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiMay 16, 2023Updated:May 16, 2023 News No Comments3 Mins Read
    Oil Spills: It’ll Cost $12bn to Clean Up Bayelsa - Report
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Oil Spills: It’ll Cost $12bn to Clean Up Bayelsa – Report

    After years of neglect, Nigeria will now need as much as $12 billion to clean up oil spills that have degraded Bayelsa state over a 12-year period, according to a new report which pointed at Shell and Eni as key responsible parties for most of the pollution.

    Bayelsa is one of the major oil producing states in the Niger Delta, a region blighted by pollution, conflict, and corruption related to the oil and gas industry.

    Oil majors in Nigeria have long faced legal challenges over Niger Delta spills, which they mostly blame on sabotage and vandalism of pipelines and illegal refining.

    The Bayelsa State Oil and Environmental Commission said in a report that it started an investigation in 2019 on the impact of spills and looked at the evidence from forensic scientists, blood samples from people in affected areas, and company data.

    The investigation discovered, among other findings, that toxic pollutants from spills and gas flaring were many times higher than the safe limits in samples of soil, water, air, and in the blood of local residents, the commission said.

    “The report finds failures of strategy, prevention, response, and remediation by oil companies,” it said.

    A spokesperson for Shell Petroleum Development Company of Nigeria Limited said it was not privy to the final report and could not comment, according to Reuter.

    An Eni spokesperson said the oil spills were due to theft to feed illegal refineries as well as illegal exports and sabotage but the company undertook to remedy all spills.

    Most of the gas produced from Eni’s Nigerian unit was converted into LNG and fed local power plants, the spokesperson said, adding that “Eni conducts its activities according to the sector’s international environmental best practices, without any distinction on a country basis.”

    Toxins that cause burns, lung problems and risk of cancer were widespread while oil company-led clean-ups were often poorly executed and could further contaminate soil and groundwater, the commission’s report said.

    The commission adopted a United Nations model use to calculate the clean-up cost of spills in Niger Delta’s Ogoniland more than a decade ago and found that “the clean-up will cost US$12 billion over 12 years” in Bayelsa.

    Pollution in Ogoniland, which was part of a landmark $1 billion clean-up effort involving a U.N. agency, could be worse than it previously estimated, a group monitoring the project said last year.

    Naira Steadies as Banks Issue Update on FX Purchase

    Bayelsa Oil spills
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Ogochukwu Ndubuisi
    • Website
    • Facebook
    • X (Twitter)
    • LinkedIn

    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

    Keep Reading

    Bitcoin Price Slides to $59k as US Inflation Stokes Selloffs

    Only 20% of POS Operators Registered- CAC Chairman

    FG Finally Hands Over Enugu Airport to Concessionaires

    We’re Rebuilding Abuja, Building Trust, Restoring Hope in Governance – Tinubu

    FG Signs 2026 Performance Pact to Promote Investment, Trade Expansion

    Aradel, Wema Bank Drop, Investors Lose N959bn as NGX Index Tanks

    Add A Comment

    Comments are closed.

    Editors Picks

    Bitcoin Price Slides to $59k as US Inflation Stokes Selloffs

    June 25, 2026

    Only 20% of POS Operators Registered- CAC Chairman

    June 25, 2026

    FG Finally Hands Over Enugu Airport to Concessionaires

    June 25, 2026

    We’re Rebuilding Abuja, Building Trust, Restoring Hope in Governance – Tinubu

    June 25, 2026

    FG Signs 2026 Performance Pact to Promote Investment, Trade Expansion

    June 25, 2026
    Latest Posts

    Bitcoin Price Slides to $59k as US Inflation Stokes Selloffs

    June 25, 2026

    Only 20% of POS Operators Registered- CAC Chairman

    June 25, 2026

    FG Finally Hands Over Enugu Airport to Concessionaires

    June 25, 2026

    We’re Rebuilding Abuja, Building Trust, Restoring Hope in Governance – Tinubu

    June 25, 2026

    FG Signs 2026 Performance Pact to Promote Investment, Trade Expansion

    June 25, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.