The Shell Petroleum Development Company of Nigeria Limited, SPDC, yesterday said it has agreed to pay the Bodo Community in Ogoniland, Rivers State, the sum of £55 million (about N16.6 billion) (N300 to £1) as compensation for damages caused by two oil spills in 2008.
Shell said in a statement made available to Vanguard that the bulk of the money, about £35 million will, be paid to individuals who agree on the settlement terms, while the balance of £20 million will be for the benefit of the general community.
According to Shell, “… a £55 million settlement agreement with the Bodo community in respect of the two highly regrettable operational spills in th
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