Shell has emphasized that Nigeria faces intense competition for oil and gas investments, stressing the need for continuous policy reforms to attract global capital.
Speaking at the Nigeria International Energy Summit in Abuja, Shell’s Senior Vice President for Nigeria, Marno de Jong, praised the regulatory improvements led by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which have helped increase crude production to 1.75 million bpd.
“Sustained reforms will boost production and generate better returns across the industry,” he stated. “Nigeria must refine its strategies and policies to remain competitive.”
Shell reaffirmed its commitment to Nigeria, noting that ongoing reforms are already attracting investments, such as the $5 billion Final Investment Decision (FID) on the Bonga North deep-water project.
Beyond crude production, Shell called for enhanced infrastructure to support domestic gas supply. Ralph Gbobo, Managing Director of Shell Nigeria Gas (SNG), emphasized that efficient gas infrastructure is vital for the sector’s expansion.
“If we fully implement regulations like the Network Code and maintain a stable investment climate, more players will enter the domestic gas market,” Gbobo stated.
Shell has been actively investing in Nigeria’s gas sector, supplying over 140 industrial and commercial customers through its distribution networks in Rivers, Abia, and Ogun States. In 2023, the company partnered with the Oyo State Government to expand gas supply infrastructure.
Source: Punch Newspaper
