Global energy company Shell Plc has announced plans to invest approximately $20 billion in Nigeria’s deepwater oil sector, attributing the decision to the policy reforms and leadership of President Bola Ahmed Tinubu.

Shell’s Chief Executive Officer, Wael Sawan, said the company’s renewed commitment reflects growing confidence in Nigeria’s investment climate. He highlighted that the administration’s clear policies, regulatory stability, and project-specific incentives have made large-scale projects like the Bonga South West deepwater development feasible.

The project, if it reaches a Final Investment Decision (FID), is expected to create thousands of jobs, boost foreign exchange earnings, and expand local content. President Tinubu emphasized that the incentives provided are targeted and legally compliant, designed to attract investment while safeguarding government revenues. Shell aims to move the project forward in the coming years, signaling one of Nigeria’s largest energy investments in recent times.