In a move that signals rising investor confidence in Nigeria’s economic reforms, the Federal Government has welcomed Shell’s renewed commitment to deepening its footprint in the country’s energy sector—anchored by a multibillion-dollar investment strategy.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Tuesday received a high-level delegation from Shell Petroleum Development Company (SPDC) in Abuja, where he commended the oil major’s continued role in supporting Nigeria’s economic development and energy security.
The delegation was led by Mr. Osagie Okunbor, Managing Director and Country Chair of SPDC, and included Mr. Marno De-Jong, the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCo) and Executive Vice President for Nigeria.
Shell’s visit followed key economic policy reforms championed by the Tinubu administration, which have been widely acknowledged as creating a more transparent, investor-friendly business climate.
“This renewed engagement from Shell reflects growing confidence in Nigeria’s macroeconomic direction and our government’s commitment to long-term capital investment,” Minister Edun said. “We remain focused on building a stable, transparent, and attractive environment for global and local partners.”
During the visit, Shell reaffirmed its strategic commitment to Nigeria through:
A $5 billion investment in the Bonga North deepwater project—the company’s first major project of its kind in Nigeria in over a decade.
A $500 million acquisition of TotalEnergies’ stake in OML 118, further consolidating its asset base and long-term presence in the Nigerian oil and gas sector.
Shell executives attributed the renewed momentum to improved policy coherence, regulatory certainty, and efforts by the government to resolve longstanding issues around local content and sector governance.
The visit comes as a strong signal of international investor confidence in Nigeria’s economic trajectory under President Bola Ahmed Tinubu, particularly in sectors critical to growth, employment, and energy transition.
It also highlights the vital role of public-private partnerships in achieving inclusive economic growth and energy stability, as global capital continues to seek credible destinations for sustainable returns.
As the global energy landscape evolves, the Federal Government has pledged to continue working closely with responsible international operators like Shell
