The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted claims that it has approved Shell International Plc’s $1.3 billion sale of its onshore assets to Renaissance Consortium.
Mrs. Olaide Shonola, Head of Public Affairs and Corporate Communication, who signed the press statement on Wednesday, emphasized that the information published in Businessday on September 11, 2024, is incorrect and didn’t originate from the Commission.
NUPRC had confirmed its commitment to transparency and stated that it will communicate its official stance on the transaction at the appropriate time.
The agency urged stakeholders and the public to disregard the misleading publication, which the Commission labeled as baseless.
This clarification comes amid ongoing discussions regarding Shell’s divestment from its Nigerian onshore operations, which has faced scrutiny due to environmental concerns and legal disputes.
Recall that Shell had previously announced plans to sell its assets in the Niger Delta to focus on deepwater and gas investments, but the approval process remains pending, awaiting the final consent of President Bola Tinubu, who also serves as the Minister of Petroleum Resources.
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