President Tinubu Ensures Investment Security and Profitable Returns

President Bola Tinubu has extended a commitment to sustain the protection and robustness of all current and incoming financial ventures within Nigeria. In a strategic move, he has signaled a welcome environment for escalating investment, particularly heralding the participation of the Shell Petroleum Development Company of Nigeria (SPDC). Tinubu highlighted the storied partnership with SPDC, dating back to its 1956 discovery of Nigeria's first commercial oil well in Oloibiri, Niger Delta.

Meeting with Shell Group's Executive Management

During an assembly with the top brass of Shell, including the Global Integrated Gas and Upstream Director, Ms. Zoe Yujnovich, at the presidential villa in Abuja, President Tinubu emphasized his support for the company's strategic directions and reassured Shell of his government's assistance.

"The focus on large-scale investments in various sectors across the continent is mounting, and we are at the helm of ushering these developments within Nigeria," declared President Tinubu. His words resonated with a promise to eliminate any challenging issues that investors might confront.

Shell's Investment Plan and Commitment

Ms. Yujnovich, on her part, articulated Shell's resolve to persist with its investment tradition in the country by aligning their future financial engagements with new and pre-existing opportunities, chiefly within the domains of Deepwater and Gas. A remarkable financial pledge of up to $1 billion is earmarked over a five to ten year period, purposed for divulging gas supplies catered to Nigeria's internal consumption and the Nigerian Liquefied Natural Gas (NLNG) enterprise. Additionally, she unveiled a significant $5 billion investment proposal for the Bonga North offshore project.

Shell expressed an urgency to proceed with these investments, underlining several foreseeably lucrative projects within Nigeria's purview for the near future. Ms. Yujnovich praised the cooperative efforts alongside the Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and the Special Adviser to the President on Energy, Olu Verheijen. Their contributions have been instrumental in realizing these expansive undertakings.

"For my success and Shell's, it's pivotal that we bring novel investments to Nigeria," said Ms. Yujnovich, emphasizing the strength of the partnership and the promising future of Shell's ventures in the country.

investment, security, energy