How Tinubu’s Policies Attract $5 Billion Shell Investment -TDF
The Democratic Front (TDF) has hailed the announcement of a $5 billion Final Investment Decision (FID) by Shell for the Bonga North Deep Offshore field, describing it as further proof of the Tinubu administration’s investment-friendly policies.
In a statement signed by its chairman, Mallam Danjuma Muhammad, and the secretary, Chief Wale Adedayo, the group emphasised that the development demonstrates Nigeria’s continued appeal to International Oil Companies (IOCs) for major investments.
The statement read in part: “We join President Bola Tinubu in celebrating the Final Investment Decision (FID) by Shell on the Bonga North Offshore Field.
“It is a thing of pride for us that the investment is the outcome of reforms introduced by the President through the Presidential Directives numbers 40, 41, and 42 to fast-track regulatory approvals, reduce operational costs, and promote competitive fiscal incentives in the oil and gas sector.
“We have a conviction that the pertinence of the fresh investment in the sector and indeed the larger Nigeria economy is not only limited to the $5 billion value of the investment but also extends to the field’s potential volume of 350 million barrels of crude oil.
Source: thenationonlineng.net
