Abuja, June 19, 2025 – The Federal Government has expressed strong approval of Shell’s renewed investment in Nigeria’s oil and gas industry, describing it as a tangible vote of confidence in the country’s reform agenda and energy potential.
At a recent stakeholder meeting, Federal Government representatives lauded Shell’s Final Investment Decision on the deep-water Bonga North project—a bold initiative expected to inject $5 billion into the sector. The administration highlighted that this project, Nigeria’s first deep-water oil venture in over a decade, signifies a transformative milestone achieved through an environment favourable to investment.
Officials noted that reforms spearheaded by the Nigerian Upstream Petroleum Regulatory Commission and enshrined in the Petroleum Industry Act have been instrumental in attracting such capital. These policy changes, including streamlined regulatory procedures, enhanced cost efficiency, and fiscal incentives, have been credited with boosting crude oil production and positioning Nigeria as a more competitive investment destination.
In welcoming Shell’s commitment, government officials reaffirmed their dedication to sustaining policies that foster transparency, reduce project delays, and encourage foreign participation. They emphasised that ongoing support for large-scale investments would yield downstream benefits—expanding local contractor involvement, creating employment, and injecting greater revenues into public coffers.
Shell’s decision to proceed with the Bonga North project not only supports production continuity at the existing Bonga field but also opens new opportunities for vessel operations, job creation, and technology transfer. The partnership reflects a revived optimism within the energy sector and a shared ambition to transform Nigeria into a regional energy powerhouse.
As Nigeria continues to pursue further reforms and secure strategic investments, the government pledged to preserve the current investment momentum and deliver on its promise of economic stability and sustainable development.
