From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has assured Shell Petroleum Development Company of Nigeria (SPDC) that his administration is addressing encumbrances, including ensuring security to promote investments in the country.
Special Adviser on Media and Publicity, Ajuri Ngelale, said Tinubu gave the assurance while receiving the management of Shell Group, led by its Global Integrated Gas and Upstream Director, Zoe Yujnovich.
Tinubu was optimistic about the prospects of increased investments from SPDC, emphasising Nigeria’s long-term relationship with the company, which discovered the first commercial oil field at Oloibiri in the Niger Delta in 1956.
He said: “We have made progress since our last meeting. I will continue to support and encourage you on this path. There is no doubt that there is a significant focus on investment in and around the continent. I am spearheading Nigeria’s global march for new investments at home.
“We are very focused on resolving all investment-related issues. There is no bottleneck that is too difficult for us to remove in our determined march toward making Nigeria the African haven for large-scale investment in all key sectors. We need each other,” he said.
In her remarks, on behalf of the Shell Group, Yujnovich, expressed Shell’s commitment to maintaining its legacy of investments in Nigeria, particularly as the company refocuses its investment to key into new and existing opportunities in the Deep-water and Gas sector.
She outlined the company’s dedication to the development of the gas value chain in the country, including a substantial commitment of $1billion over the next five to 10 years, aimed at unlocking gas resources for domestic use and the Nigeria Liquefied Natural Gas (NLNG) project.