By Danjuma Amodu | January 26, 2026
Shell Plc has pledged to invest an additional $20 billion in Nigeria, citing President Bola Tinubu’s leadership and vision as key factors in the decision. The announcement was made during a meeting between Shell’s Chief Executive, Mr Wael Sawan, and President Tinubu at the Presidential Villa in Abuja.
According to Mr Sawan, Shell is keen to expand its investments in Nigeria, citing the country’s stable economic environment and the president’s vision as major attractions.
“Your leadership and your vision have created an investment climate… that propelled us to invest,” he said.
The proposed investment includes the Bonga Southwest project, which is expected to generate significant revenue for the country. Mr Sawan described the project as “one of the biggest energy projects in the world.”
Mr Sawan highlighted recent Shell investments in Nigeria, including $5 billion in Bonga North, $2 billion in HI, and the gas project to NLNG. “The leadership and vision of President Tinubu have created an investment climate that has propelled us to invest in Nigeria,” he said. “We are investing for 20, 30, 40 years, and in the case of Nigeria, for many decades.”
President Tinubu has approved targeted incentives to support the project, which are “ring-fenced and investment-linked” to new capital and incremental production. “This is a sea change from where we were several years ago,” Mr Sawan said, thanking the President for his leadership.
President Tinubu welcomed the investment, stating that the incentives offered to Shell are “not blanket concessions” but are “ring-fenced and investment-linked.” He expects the Bonga South West project to reach a Final Investment Decision within his administration’s first term.
The President’s Special Adviser on Energy, Mrs Olu Arowolo-Verheijen, has been directed to facilitate the gazette of the incentives in line with Nigeria’s existing legal and fiscal frameworks.
