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Shell Global CEO Hails Tinubu’s Visionary Leadership, to Invest $20bn in Nigeria

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The Chief Executive of Shell Plc, Wael Sawan, has praised President Bola Tinubu’s leadership for creating a healthy climate for investments to thrive and restoring investor confidence.

This was detailed in a statement by the Special Adviser on Information & Strategy to the President, Bayo Onanuga.

According to Onanuga, at a meeting with President Tinubu at the Presidential Villa, Mr Sawan said Shell is deepening and expanding its investments in Nigeria, and the company is ready, alongside its partners, to invest an additional $20 billion, primarily because of the robust and bold leadership of the President.

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“He 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 $5 billion in Bonga North, $2 billion 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.

“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, 40 years and in the case of Nigeria, for many, many decades.”

Speaking on the expansion of Shell’s investments in Nigeria, Mr Sawan said the corporation has also deepened its interest in Block OML 118, the Bonga Block.

“Total Energies was selling, so we bought it because we want to deepen 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. And so we are indeed working on a project, Bonga Southwest, that could, if we reach an FID stage, see us, with our partners, invest around $20 billion in foreign direct investment, half of which will be capital. The other half will be the operating expenses and the like that will come into the country,” he said.

“This will be one of the biggest, I would say, energy projects in the world.”

Speaking further, he added: “We still see opportunities like Bonga South, which is further in the funnel, to be able to continue to invest.”

Mr Sawan described Shell’s new commitments as a “sea change” from where it was several years ago, when the corporation was pulling back on investments in the country.

“Your Excellency, to Bonga Southwest, that huge project, I would like to thank you. I want to thank you for the leadership you have shown there to be able to provide the incremental incentives that are now getting us line of sight to an investment in this project with our partners,” the Shell Chief Executive thanked the President.

He also commended the President’s team, describing them as outstanding professionals.

“And that leadership, I would also say, has put many of the people that we are working with, your team, are amongst the best that we are dealing with anywhere in the world, and that professionalism allows us to be able to have the confidence, and I would say our partners as well, to have the confidence to continue to invest,” he concluded.

At the meeting, Tinubu approved the gazetting of targeted, investment-linked incentives to support the proposed Bonga South West deep offshore oil project by Shell and its partners.

The President also directed his Special Adviser on Energy, Mrs Olu Arowolo-Verheijen, to facilitate the gazette of the incentives in line with Nigeria’s existing legal and fiscal frameworks.

“These incentives are not blanket concessions,” the President stated. “They are ring-fenced and investment-linked, focused on new capital and incremental production, strong local content delivery, and in-country value addition.

“My expectation is clear: Bonga South West must reach a Final Investment Decision within the first term of this administration,” President Tinubu added.

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Fertiliser Plants: Dangote Vows to Ensure Food Security in Africa

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President of the Dangote Group, Aliko Dangote, has reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments, declaring that the continent has the capacity to feed itself and become a net exporter of agricultural products.

Dangote made this known while addressing journalists in Gode, in Ethiopia’s Somali region, during a high-profile visit hosted by Prime Minister Abiy Ahmed. The Prime Minister personally received Dangote and accompanied him to inspect the site of the proposed fertiliser plant, where construction activities are already underway.

Speaking on the strategic importance of fertiliser in agricultural productivity, Dangote noted that Africa’s food insecurity challenges are largely due to limited access to key inputs.

“Africa holds immense agricultural potential, yet continues to grapple with food insecurity due to limited access to fertiliser,” he said. “Through our investments, we are committed to reversing this trend by boosting productivity, empowering farmers, and advancing a sustainable path to food self-sufficiency.”

He added that the Group’s ambition, though bold, is achievable with sustained investment in fertiliser production and agricultural infrastructure.

“Africa has the capacity to feed itself and even export to the rest of the world. Our fertiliser investments across the continent are designed to unlock that potential and secure a prosperous future for our people,” Dangote stated.

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Dangote also announced a significant increase in the Group’s investment in Ethiopia, rising from $2.5 billion to over $4 billion. The expanded scope includes critical infrastructure such as a 110-kilometre pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant, among other new components.

He described Ethiopia as a key strategic destination for Dangote Group’s long-term investments.

“In total, our declared and signed investments in Ethiopia now exceed $4 billion. This makes Ethiopia the second-largest recipient of our investments in Africa, accounting for nearly nine per cent of our continental outlay between now and 2030,” he said.

Dangote further commended Prime Minister Abiy Ahmed’s leadership and vision for economic transformation.

“The Prime Minister is driving development beyond expectations, but such progress requires strong private sector collaboration. We are proud to partner with Ethiopia to help build one of Africa’s most dynamic economies in the coming decade,” he added.

Prime Minister Abiy Ahmed, in his remarks, described Dangote as a trusted partner and commended the pace of work on the fertiliser project, which he said aligns with Ethiopia’s broader development priorities.

He emphasised that the project would significantly boost domestic fertiliser production, reduce dependence on imports, and provide critical support to millions of Ethiopian farmers.

According to the Prime Minister, the fertiliser plant will also create extensive employment opportunities, strengthen the industrial value chain, and reinforce Ethiopia’s position as an emerging agro-industrial hub in Africa.

“This type of large-scale investment demonstrates the power of strong collaboration between government and the private sector,” he said. “Expanding such partnerships will accelerate economic growth, attract further investment, and improve the livelihoods of our people.”

The Dangote fertiliser initiative is widely seen as a transformative step toward reshaping Africa’s agricultural landscape, with the potential to enhance productivity, reduce import dependence, and drive inclusive economic growth across the continent.

Photo Caption – L-R: President of Dangote Group, Aliko Dangote, being welcome by the Prime Minister of Ethiopia, Abiy Ahmed to Gode, in Ethiopia’s Somali region, during an inspection of the fertiliser plant under construction in Gode, Ethiopia, over the weekend.

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Navy Uncovers, Dismantles Illegal Refined Petroleum Products Depot in Rivers

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The Nigerian Navy (NN) has uncovered and dismantled an illegal refined petroleum products depot in Okrika, Rivers State, as part of ongoing operations against crude oil theft and illicit petroleum activities in the Niger Delta.

The Navy disclosed that the operation was carried out by Nigerian Navy Ship (NNS) Pathfinder under Operation Delta Sentinel during anti-crude oil theft patrols targeted at economic saboteurs and illegal petroleum distribution networks.

According to the Navy, the operation led to the discovery of a major storage facility linked to the distribution of suspected illegally refined Automotive Gas Oil (AGO) within Rivers State.

“During the raid, naval personnel uncovered a warehouse located around Okochiri Kingdom in Okrika Local Government Area containing 410 drums loaded with approximately 123,000 litres of suspected illegally refined AGO,” the Service said.

In a statement yesterday, the Director of Naval Information, Navy Captain Abiodun Folorunsho, said preliminary investigations indicated that the products were transported from illegal refining sites outside the community and stockpiled in the warehouse for onward distribution through illicit supply channels.

Folorunsho stated that the discovery underscored the growing trend of illegal petroleum operators shifting from refining camps to concealed storage and distribution systems in a bid to evade ongoing anti-crude oil theft operations and sustain black-market fuel trade across the region.

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He added that the products were handled in line with established anti-crude oil theft procedures, while further surveillance and assessments within the area were ongoing.

The Navy also stated that current operations under Operation Delta Sentinel remain focused on dismantling the logistics and supply networks sustaining crude oil theft, illegal refining, and illicit petroleum distribution across the Niger Delta.

Reaffirming its commitment to protecting critical national assets, the Nigerian Navy said it would continue to sustain intelligence-driven operations aimed at denying economic saboteurs freedom of operation within Nigeria’s maritime and littoral environment, in line with the vision of the Chief of the Naval Staff.

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Adoption of AI Feature as NIPetGE Pays Courtesy Call at NNPC Ltd

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Enhanced adoption of artificial intelligence and other digital technologies to improve operations in Nigeria’s oil and gas industry is taking the centre stage in relevant circles.

The issue came up strongly when the President-elect of the Nigerian Institute of Petroleum and Gas Engineers NIPetGE, Prisca Kanebi, paid a courtesy call at the Nigerian National Petroleum Company Limited (NNPC Ltd), Abuja.

Biztellers reports that the Kanebi led delegation was received by the Group Chief Executive Officer of the NNPC Ltd, Bayo Ojulari, represented by the Executive Vice President, Gas, Power and New Energy, Olalekan Ogunleye.

According to a statement made available on Sunday, discussions at the meeting focused on the future of Nigeria’s hydrocarbon industry amid global energy transition concerns, technological changes and sustainability targets.

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The statement indicated that the NNPC Ltd acknowledged the role of NIPetGE in policy advocacy, technical development and innovation within the sector.

Speaking during the meeting, Kanebi highlighted recommendations from the institute’s recent conference, including the proposed establishment of a national centre for intelligent energy systems to support the deployment of artificial intelligence, the Internet of Things and robotics across the petroleum value chain.

She also commended the Federal Government’s decarbonisation efforts and reiterated the institute’s support for policies aimed at improving sustainability in the industry.

The institute also recommended the creation of a hydrocarbon-linked emissions trading system to allow Nigeria to take part in global carbon markets.

The institute also proposed fiscal incentives to support local manufacturing and service delivery in the oil and gas sector, as well as the expansion of the Energy Transition Plan to include measurable upstream decarbonisation targets backed by tax credits.

Other proposals included increased public-private partnerships in emission control infrastructure, carbon capture projects and hybrid renewable energy initiatives.

Both organisations also stressed the need for stronger collaboration between industry and academic institutions to improve professional capacity and align petroleum engineering practice in Nigeria with international standards.

The institute further disclosed that its bill seeking chartered status had passed second reading and was progressing towards a third hearing at the National Assembly.

It added that NNPC Ltd pledged support for future collaborations with the institute on initiatives aimed at improving efficiency and innovation in the energy sector.

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