TheCable

President Bola Tinubu says he is optimistic about attracting increased investments from Shell Petroleum Development Company of Nigeria (SPDC).

During a meeting on Thursday with the Shell Group management, led by Zoe Yujnovich, its director of global integrated gas and upstream, Tinubu highlighted the company’s long-standing partnership with Nigeria and its significant role in the country’s oil and gas industry.

The president said his administration is committed to ensuring investment security and viability. 

“We have made progress since our last meeting. I will continue to support and encourage you on this path,” he said.

“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.

“In view of our long-term relationship that has been established over the years, we want you to do more, and we are ready to encourage you in every way possible. 

“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.”

Tinubu further expressed confidence in the potential for collaboration with Shell. 

In a bid to attract more foreign investment, Tinubu has met with oil executives to improve the oil sector of the country. 

The president, in June 2023,  met with executives of ExxonMobil Company and Mobil Producing Nigeria Unlimited (MPNU) amid the petrol subsidy removal crisis.

Tinubu said the meetings were efforts by his government to bring stabilisation to the oil sector.