Shell Global CEO Hails President Tinubu’s Leadership As Key Driver Of

Shell Global CEO Hails President Tinubu’s Leadership as Key Driver of Planned $20 Billion Investment in Nigeria
Headline: Shell Plc’s Global Chief Executive Officer, Wael Sawan, has praised President Bola Ahmed Tinubu’s leadership and vision as decisive factors behind the company’s plans to commit an additional $20 billion in foreign direct investment in Nigeria’s energy sector signaling renewed confidence in the country’s investment climate.
Speaking during a high-level meeting at the Presidential Villa in Abuja, Mr. Sawan said Shell’s desire to invest in Nigeria “has not always been the case” in past years but has strengthened under President Tinubu’s leadership and strategic vision, which he said has propelled investor confidence compared with other global markets.

• He underscored that long-term stability, clarity in policy direction, and sustained reforms have made Nigeria attractive for multi-decade investments, not just short-term capital. “We are investing not for one administration… we want to invest for 20, 30, 40 years,” Sawan said, noting Nigeria’s potential for decades of growth and development.
  The envisioned $20 billion investment is tied to advancing the Bonga South West deep offshore oil and gas project. If it reaches Final Investment Decision (FID), it would represent one of the largest energy investments in the world, with roughly half directed to capital expenditure and the rest to in-country operating costs and services. Sawan highlighted Shell’s ongoing and recent commitments in Nigeria including nearly $5 billion in the Bonga North field, $2 billion in the HI project, and major gas supply initiatives linked to Nigeria LNG Limited (NLNG) as evidence of the company’s renewed and deepening footprint. According to Shell’s CEO, policy certainty and economic stability under the Tinubu administration have been central in attracting large-scale foreign investment from major global energy corporations. These conditions, Sawan said, compare favourably with other markets around the world.
• He also commended the professionalism and quality of Nigeria’s economic and energy teams, saying their expertise gives Shell and its partners greater confidence in long-term strategic investments in the country’s energy sector.
  In response to Shell’s planned investment, President Tinubu approved the gazetting of targeted, investment-linked fiscal incentives designed to support the Bonga South West project without offering broad concessions. These incentives are tailored to new capital, incremental production, strong local content and in-country value addition.
• The President also directed his Special Adviser on Energy to facilitate the implementation of these incentives in line with Nigeria’s legal frameworks, reinforcing Nigeria’s position as an attractive investment destination.
• Tinubu reiterated his administration’s expectation that the Bonga South West project reaches FID within his first term, underlining the government’s commitment to unlocking large-scale investments that can drive economic growth, job creation and enhanced energy output.