Shell Expands Nigeria Investment
By Patience Ikpeme
The Federal Government is optimistic about Shell’s fresh commitment to Nigeria’s energy sector. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed this optimism after receiving a senior delegation from Shell Petroleum Development Company (SPDC) Nigeria Limited.
Led by Managing Director and Country Chair, Mr. Osagie Okunbor, the Shell delegation’s visit to Minister Edun’s Abuja office served to introduce Mr. Marno De-Jong, the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCo).
The visit also confirmed Shell’s strategic commitment to Nigeria, following recent economic reforms under President Bola Ahmed Tinubu’s administration. Minister Edun commended Shell’s ongoing contributions to Nigeria’s economic development and spoke of the Tinubu Administration’s dedication to continuing macro-economic reforms, attracting long-term capital, and fostering a transparent, investor-friendly environment.
Shell confirmed a capital investment in the Bonga North deep-water project and related infrastructure, part of a broader $5 billion commitment. This marks Shell’s first major project of its kind in Nigeria in over a decade.
The delegation also noted Shell’s recent $500 million acquisition of TotalEnergies’ stake in OML 118, further solidifying its position in Nigeria’s oil and gas sector. Shell’s leadership attributes this renewed momentum to improved policy consistency, greater regulatory predictability, and the government’s efforts to resolve past issues related to local content implementation.
This visit signals growing international investor confidence in Nigeria’s policy direction and underscores the private sector’s crucial role in driving inclusive growth and energy security.
