Details emerge of President Tinubu’s meeting with Shell

In a significant development, details have emerged regarding the meeting between President Bola Ahmed Tinubu and officials from the Shell Petroleum Development Company (SPDC).

The meeting took place at the State House in Abuja, where President Tinubu reiterated his government’s commitment to policy consistency and creating an improved business climate to attract investment.

The meeting, led by the Global Upstream Director of SPDC, Ms Zoe Yujnovic, provided an opportunity for President Tinubu to welcome the company’s offer for increased investments in Nigeria’s oil and gas sector. He emphasized that such investments are crucial at this time to enable the government to fulfill its obligations to the Nigerian people.

Recalling his personal promise to Nigerians, President Tinubu reaffirmed his determination to attract fresh investments, stating, “Whatever it takes, I will fulfill that promise to Nigerians.”

He assured the Shell management and other potential investors that Nigeria is ready for business, and his administration is committed to maintaining an open-door policy and addressing their concerns.

“We are open for business. We are serious. I give you the assurance of consistency in policy,” President Tinubu asserted, highlighting the government’s efforts to remove bottlenecks and transform Nigeria into an attractive investment destination.

During her address to the President, Ms Yujnovic commended the Tinubu presidency for its “incredibly strong start” and expressed optimism about the government’s bold steps to revive Nigeria’s standing as an investment destination.

She further stated that SPDC was eager to increase its investment in the country, particularly in the areas of gas and deep-water assets, with billions of dollars being pumped in.

Nigeria holds strategic importance as an investment country for SPDC due to the longstanding relationship between the company and the nation’s oil and gas sector. Ms Yujnovic expressed confidence in Nigeria’s potential and emphasized the prospects that lie ahead.

The meeting between President Tinubu and the SPDC officials signals a shared commitment to fostering economic growth, attracting investments, and enhancing the oil and gas sector in Nigeria.

With the government’s pledge to policy consistency, the removal of bottlenecks, and the determination to create a favorable business environment, the stage is set for increased collaboration between the public and private sectors.

This meeting marks an important milestone in Nigeria’s journey towards becoming an even more attractive investment destination, ultimately benefiting both the nation and its people.