Shell to invest additional $20bn in Nigeria, citing reformed policies under Tinubu

Shell Plc plans to invest approximately $20 billion more in Nigeria over the next several years, signaling renewed confidence in the country’s oil and gas sector following recent policy reforms.

This was disclosed by Nigerian National Petroleum Company Limited (NNPCL) Group CEO, Bayo Ojulari, after a meeting in Abuja between President Bola Tinubu and Shell’s global leadership, led by CEO Wael Sawan.

Ojulari explained that the visit was to formally appreciate the President for the executive orders issued last year to improve Nigeria’s investment climate.

He emphasized that while the Petroleum Industry Act provided a foundation, additional incentives were crucial to keep Nigeria competitive for global capital against other investment destinations.

The NNPCL CEO credited these policy shifts for enabling Shell to complete three major milestones in the last 18 months: the divestment of its onshore joint venture assets, a $5 billion final investment decision for the Bonga North deep-water project, and a subsequent $2 billion investment in a shallow-water gas project.

According to Ojulari, Shell has already invested over $7 billion since the incentives were announced.

The discussions also focused on Shell’s next major venture, the Bonga Southwest development, which is moving toward a final investment decision and represents a capital expenditure of nearly $10 billion. Ojulari highlighted that such projects would generate large-scale job creation, revive dormant fabrication yards, and provide decades of employment and supply contracts.

Ojulari affirmed NNPCL’s role as the concession holder, committed to working with investors and government agencies to develop credible proposals, acting as “the conscience of the government and the conscience of Nigerians” to ensure transparency and authenticity in all commitments.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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