Shell Petroleum Development Company (SPDC) Nigeria Limited has reaffirmed its commitment to Nigeria’s energy sector with a confirmed capital investment in the Bonga North deep-water project and associated infrastructure. The investment forms part of a broader $5 billion pledge and marks Shell’s first major project of its kind in Nigeria in over a decade.
The confirmation was made during a courtesy visit to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja on Wednesday. The delegation was led by SPDC Managing Director and Country Chair, Mr. Osagie Okunbor, and included the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCo) and Executive Vice President for Nigeria, Mr. Marno De-Jong.
According to a statement from the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, the visit served to formally introduce Mr. De-Jong and reaffirm Shell’s strategic presence in Nigeria, following the Tinubu administration’s recent economic reforms.
During the meeting, Shell also disclosed its recent acquisition of TotalEnergies’ stake in Oil Mining Lease (OML) 118—a $500 million transaction that further solidifies the company’s long-term investment in Nigeria’s oil and gas sector.
The delegation attributed the renewed investment drive to enhanced policy clarity, improved regulatory frameworks, and the government’s efforts to resolve challenges surrounding local content implementation.
In his response, Minister Edun welcomed Shell’s renewed interest in the Nigerian energy space, commending the company’s longstanding contributions to the nation’s economic development. He reiterated President Bola Tinubu’s commitment to deepening macroeconomic reforms, attracting sustainable investments, and maintaining a transparent, investor-friendly environment.
