The Chief Executive Officer of Shell Plc, Mr Wael Sawan, has praised President Bola Tinubu’s leadership for creating a healthy climate for investments to thrive and restoring investor confidence.At a meeting with President Tinubu at the Presidential Villa in Abuja recently, Sawan said Shell is deepening and expanding its investments in Nigeria, and the company is ready, alongside its partners, to invest an additional $20bn primarily because of the robust and bold leadership of the President.According to a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Sawan emphasised that Nigeria, under the Tinubu administration, is one of the countries attracting significant investment from global oil companies.Highlighting Shell’s recent investments, such as the $5bn in Bonga North, $2bn in HI, and the gas project to NLNG, Sawan stated that the corporation is committed to long-term investments in the country, underscoring the stable economic environment.“We have really been in a space where we are very keen to invest in Nigeria. But I would say this has not always been the case.Your leadership and your vision have created an investment climate over the last few years that, I will be very honest with you, propelled us to invest, in particular, also as we compare to other investments around the world,” he said.The Shell CEO maintained that “stability in today’s environment will honestly have a premium for corporates because we are investing not for one administration or five or 10 years; we want to invest for 20, 30, or 40 years, and in the case of Nigeria, for many, many decades.”Speaking on the expansion of Shell’s investments in Nigeria, Sawan maintained that the corporation has also deepened its interest in OML 118, the Bonga Block.“TotalEnergies was selling, so we bought it because we want to deepen it further. But that, we think, is not enough. We think there is more to invest here, and we understand the vision that you have for the country.
Tinubu, Shell in high-level talks over S20bn investment in Nigeria
