TotalEnergies EP Agrees to Sell 10% Stake in Oil, Gas Assets to Chappal for $860m French oil giant confirms deal, announces retention of interest in gas supply to NLNG
Emmanuel Addeh in Abuja
Chappal Energies yesterday announced the acquisition of
TotalEnergies EP Nigeria Limited's 10 per cent stake in key oil and gas assets for an aggregate consideration of $860 million, subject to contractual
and regulatory approvals. A statement by the company stated that the Sale and Purchase Agreement (SPA) is for TotalEnergies'
non-operated interest in its onshore and shallow water assets within the Shell Petroleum Development Company (SPDC) JV in the Niger
Delta. The transaction is expected to close by December 31, 2024. The acquisition includes a 10 per cent interest in 15 Oil Mining
Leases (OMLs) and two main export terminals in Nigeria, specifically the Continued on page 9
Financial Times to Tinubu: Shock Therapy Alone Won’t Cure Nigeria’s Economic Ills... Page 5 Thursday 18 July, 2024 Vol 29. No 10690. Price: N400
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PDP Govs: Tinubu Has Failed in Governance, Impoverished Nigerians, Worsened Economy Vow to reclaim nation’s leadership, decry drift into anarchy Warn INEC against bias in off-season elections Say APC mismanaging country’s economy Demand inclusive congresses, support minimum wage, LG autonomy, Fubara
Chuks Okocha in Abuja, Gideon Arinze in Enugu and Blessing Ibunge in Port Harcourt
State governors elected on the platform of Peoples Democratic Party (PDP), yesterday, came down hard on the leadership of President
Bola Tinubu, saying he has not only failed to deliver good governance, but also impoverished the people, and worsened Nigeria’s economy.
The governors vowed to reclaim all leadership positions across Nigeria, including the presidency, to save the country from further
drift into anarchy. They also accused the “lacklustre All-Progressives Congress (APC) led federal government of suc-
cessfully destroying the entire 16 years of development under the Continued on page 9
NASS Okays Tinubu's Fresh Request for N6.2tn Injection into N27.5tn 2024 Budget Reviews 2023 Finance Act to tax banks’ FX gains Barau hints amendment meant to accommodate new minimum wage Edun: FG to reintroduce beverage tax
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PDP GOVERNORS' FORUM MEETING...
L-R (Front Row): Governors Sheriff Oborevwori (Delta); Ahmadu Fintiri (Adamawa); Siminalayi Fubara (Rivers); Dauda Lawal (Zamfara); Peter Mbah (Enugu); Agbu Kefas (Taraba); and L-R (Back Row): Chairman, PDP Former Ministers Forum, Tanimu Turaki; Umo Eno (Akwa-Ibom); Caleb Mutfwang (Plateau); Seyi Makinde (Oyo); and former governor of Kaduna State, Ahmed Makarfi while Governor of Bauchi State/Chairman of the PDP Governors' Forum, Senator Bala Mohammed presents a communique after a meeting at the forum at the Government House, Enugu…yesterday