By Global Gas and Refining Limited has strongly criticized the $2.4 billion sale of Shell Petroleum Development Company of Nigeria (SPDC) to Renaissance Africa Energy Holdings, alleging it defies a Federal High Court order. The company argues that the sale violates an ongoing legal case between Shell and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Kenneth Yellowe, Chairman of Global Gas, expressed frustration over NUPRC’s approval of the sale, claiming it undermines Nigeria’s judicial system and disregards the rule of law. He stated that Global Gas plans to take legal action against both NUPRC and SPDC, citing a long-standing dispute over a gas processing agreement.
Yellowe described the transaction as a “flagrant affront to the Nigerian judiciary” and accused Shell of blatant disregard for the country’s legal system. He emphasized that the sale was completed despite an existing court order in Suit No: FH/ABJ/CS/413/2024, which restricted any action on the matter.
According to Yellowe, NUPRC’s Chief Executive, Gbenga Komolafe, was fully aware of an affidavit that explicitly barred any steps that could interfere with the case. He questioned how the sale proceeded despite clear legal warnings.
“This defiance not only undermines the rule of law but also sets a dangerous precedent for corporate governance in Nigeria,” Yellowe stated. Global Gas insists that the sale’s completion threatens the credibility of Nigeria’s legal framework.
The controversial sale, announced by Shell on March 13, 2025, has now sparked a potential legal battle, raising concerns about the enforcement of court orders and the integrity of the nation’s judiciary.
