By Wealth Oghenemaro
Shell Petroleum Development Company (SPDC) Nigeria Limited has confirmed a landmark capital investment in Nigeria, announcing its involvement in the Bonga North deepwater project as part of a broader $5 billion commitment to the country’s energy sector.
The investment—Shell’s first major deepwater initiative in Nigeria in over a decade—was reaffirmed during a high-level visit to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja on Wednesday. The SPDC delegation was led by the Managing Director and Country Chair, Osagie Okunbor, and included the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCO) and Executive Vice President for Nigeria, Marno De-Jong.
According to a statement by the Director of Information and Public Relations at the Ministry, Mohammed Manga, the Bonga North project and its associated infrastructure are central to Shell’s renewed drive to strengthen its footprint in Nigeria.
The delegation also spotlighted Shell’s recent acquisition of TotalEnergies’ stake in Oil Mining Lease (OML) 118, a $500 million deal that reinforces the company’s long-term commitment to the country’s oil and gas sector.
Shell attributed its renewed investment momentum to an improved policy environment, enhanced regulatory clarity, and the Federal Government’s efforts to resolve lingering issues around local content policies.
The visit to the Finance Ministry was also an opportunity to officially introduce De-Jong to government stakeholders and to reiterate Shell’s long-term strategic vision for Nigeria.
In response, Minister Wale Edun expressed appreciation for Shell’s confidence in Nigeria’s economic direction and applauded the company’s continued contributions to national development. He reaffirmed President Bola Tinubu’s commitment to deepening macroeconomic reforms, promoting transparency, and fostering an investor-friendly climate to attract both local and international capital.
Edun described Shell’s investment as a welcome boost to Nigeria’s energy ambitions, expressing optimism about its potential to generate long-term value for the country.
