Shell Petroleum to invests billions of dollars in Nigeria’s gas, deep-water assets after Tinubu’s meeting

President Bola Tinubu met with a delegation from the Shell Petroleum Development Company (SPDC), amid the reform of the oil sector.

Tinubu appealed for continuous investments from Shell Petroleum, stating that they are vital to the government meeting its financial obligations.

He said the investments are needed now more than ever and he is creating a better business environment, through policy reforms, to attract investments.

The details of the meeting on Monday were disclosed in a statement by Dele Alake, the special adviser to the president on special duties, communication, and strategy.

In the meeting held in Abuja, Tinubu said he will do whatever it takes to fulfil the promise he made to Nigerians, part of which is making Nigeria ready for business, to increase the capital available for government projects.

He told Shell Petroleum that his administration is ending bottlenecks constraining businesses, to ensure Nigeria is appealing to exiting investors.

“We are open for business. We are serious. I give you the assurance of consistency in policy,” he added.

READ ALSO:Shell reveals how Nigeria lost N2.3tn in revenue in one year year

Tinubu’s meeting with Shell Petroleum comes weeks after he met with directors from ExxonMobil, a foreign oil company planning to sell some of its assets to Seplat Energy, a Nigerian-owned oil firm.

Shell Petroleum was led by its global upstream director, Zoe Yujnovich, who praised Tinubu for his policies, which she said are making the country business-friendly.

Yujnovich is confident in the decisions of Tinubu, stating that he has had an incredibly strong start.

“The bold step taken by the government would renew Nigeria’s pride of place as an investment destination,” she said.

The top director at Shell disclosed that her company is willing to invest billions of dollars in Nigeria, with a major focus on gas and deep-water assets.

She spoke of the long history between Nigeria and Shell, adding that the country remains a strategic investment country for the company.

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