By Ayomide Otitoju
Shell Petroleum Development Company (SPDC) Nigeria Limited has confirmed its capital investment in the Bonga North deepwater project and related infrastructure, marking its first major project in Nigeria in over a decade and part of a broader $5 billion commitment to the country’s energy sector.
The confirmation was made during a courtesy visit by a Shell delegation led by the Managing Director and Country Chair, Osagie Okunbor, to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja on Wednesday.
A statement from the Ministry’s Director of Information and Public Relations, Mohammed Manga, noted that the team included Marno De-Jong, the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCO) and Executive Vice President for Nigeria.
The delegation also briefed the minister on Shell’s recent acquisition of TotalEnergies’ stake in Oil Mining Lease (OML) 118, a $500 million transaction that bolsters Shell’s long-term positioning in Nigeria’s oil and gas sector.
Shell executives attributed the renewed investment drive to the Nigerian government’s policy reforms, enhanced regulatory clarity, and steps taken to resolve long-standing issues around local content requirements.
The meeting also served as a platform to officially introduce De-Jong and reaffirm Shell’s commitment to supporting Nigeria’s economic growth and energy security.
Responding, Minister Edun welcomed Shell’s renewed investment in Nigeria, reiterating the Tinubu administration’s commitment to macroeconomic stability, regulatory transparency, and the creation of an investor-friendly environment. He also lauded Shell’s continued contributions to the country’s development.
