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Royal Dutch Shell to invest $15bn in Nigeria – Buhari

President Muhammadu Buhari on Wednesday disclosed that British–Dutch multinational oil and gas company, Royal Dutch Shell plc, is preparing to make a $15 billion investment in Nigeria, while fielding questions at the business forum of CHGOM in London.

The disclosure comes hours after the President met with a delegation of Shell led by the company’s CEO, Mr Ben van Beurden, at the Abuja House, London.

Also in the meeting, were the Minister of State for Petroleum Resources, Dr Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru.

“On security, certainly, both in the northeast and in the southsouth, there has been an improvement in the security of the country,” Mr Buhari said.

“This morning, before I came here, I saw Shell Group. They came to see me, and they are preparing to invest $15 billion in Nigeria.

“Really, we are not doing too bad, and I think you should get in touch with your colleagues back at home, and tell them to think very clearly and positively on what this administration is doing,” the president added, referring to the Nigerian youths he said want to sit and do nothing.”

“The surest, most sustainable way to lift millions of people out of poverty in the Commonwealth is through trade and investment.

“We believe that we as leaders must grab the opportunity ty to focus on trade and investment for inclusive development. I urge the Commonwealth Business Forum and prospective investors to join Nigeria.

“The ongoing Nigerian experience to this end is illustrative in an enabling environment for business, which was and remains one of my priorities as president. We are undertaking deep and extensive ease of doing business reforms.

“Some of our lessons may be useful for the Commonwealth family; Nigeria’s doors are open for business. Nigeria is and shall remain an open trading economy, deep in integration and governed by the rule of trade law.”

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