In a renewed commitment to Nigeria’s energy sector, Shell Nigeria Exploration and Production Company has confirmed its capital investment in the Bonga North deep-water project and associated infrastructure—part of a broader $5 billion commitment, and the company’s first major project of its kind in Nigeria in over a decade.
The confirmation followed a high-powered delegation from the company, led by the Managing Director and Country Chair, Mr. Osagie Okunbor which paid a visit to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun in his office in Abuja, Wednesday.
In a statement, the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga disclosed that members of the delegation included the incoming Country Chairman of Shell Nigeria Exploration and Production Company (SNEPCO) and Executive Vice President for Nigeria, Mr. Marno De-Jong.
The visit served to formally introduce De-Jong and reaffirm Shell’s strategic commitment to Nigeria, following recent economic reforms under the administration of President Bola Ahmed Tinubu.
“Shell confirmed its capital investment in the Bonga North deep-water project and associated infrastructure—part of a broader $5 billion commitment—marking the company’s first major project of its kind in Nigeria in over a decade.
“The delegation also highlighted Shell’s recent acquisition of TotalEnergies’ stake in OML 118, a transaction valued at $500 million, which further strengthens its long-term position in Nigeria’s oil and gas sector.
“The leadership attributed its renewed momentum to improved policy coherence, greater regulatory certainty, and the government’s efforts to address legacy challenges related to local content implementation,” the statement said.
In his remarks, the minister welcomed Shell’s renewed commitment to Nigeria’s energy sector, expressing optimism about the company’s investments in the country
Edun, applauded Shell’s continued contributions to Nigeria’s economic development.
He reaffirmed the President Bola Tinubu administration’s commitment to sustaining macro-economic reforms, attracting long-term capital, and ensuring a transparent and investor-friendly environment for domestic and global partners.
SOURCE : THISDAY
About The Author
