Shell Announces $20 Billion Investment in Nigeria’s Oil & Gas Sector

Shell Announces $20 Billion Investment in Nigeria’s Oil & Gas Sector

Abuja, Nigeria — Global energy giant Shell Plc has unveiled plans to invest $20 billion in Nigeria, signaling strong confidence in the country’s oil and gas sector and recent policy reforms under President Bola Tinubu.

The investment will primarily target the Bonga South West deepwater project, with funds earmarked for infrastructure development, job creation, and local content expansion. The move is expected to rejuvenate long‑dormant facilities, boost oil production, and provide opportunities for Nigerian suppliers and service companies.

NNPCL Group CEO Bashir Ojulari described Shell’s commitment as a “vote of confidence” in Nigeria’s investment climate and regulatory stability. The company’s capital expenditure plans follow other major projects, including the Bonga North development and offshore gas initiatives, totaling billions of dollars.

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Shell’s announcement comes as the Nigeria National Petroleum Company Limited (NNPCL) reported growth in oil production, aided by stronger pipeline security and better host-community relations. Analysts say this creates a favorable environment for sustained foreign investment, enhanced foreign exchange inflows, and industrial growth.

Officials from Shell and NNPCL also met with Nigerian authorities to discuss project timelines, regulatory compliance, and operational frameworks, emphasizing the need for efficient project execution and local content compliance.

With these strategic investments, Nigeria is positioning itself as a leading destination for foreign capital in Africa’s energy sector, reinforcing its potential to deliver jobs, revenue, and economic growth.

Shell Announces $20 Billion Investment in Nigeria’s Oil & Gas Sector