Shell to Commit $20bn Investment in Nigeria, Says NNPC Chief

NNPC Group Chief Executive Officer Bayo Ojulari says Shell Plc has committed to invest $20 billion in Nigeria over the next few years.

Ojulari made the disclosure on Thursday after a courtesy visit by Shell’s delegation to the State House in Abuja. He described the commitment as a significant boost for Nigeria’s energy sector and a demonstration of investor confidence.

Shell is one of Nigeria’s longest-standing international oil and gas partners and has continued to expand its portfolio. In May 2025, TotalEnergies EP Nigeria (TEPNG) signed an agreement to sell its 12.5 percent stake in OML 118 to Shell Nigeria Exploration and Production Company (SNEPCo) for $510 million, further consolidating Shell’s position in the offshore domain.

We are very keen to invest in Nigeria. But I'll say this hasn't always been the case. Your leadership has created an investment climate over the last few years that has propelled Shell to invest in Nigeria.

– Shell GCEO, Wael Sawan, tells President Tinubu as he announces plans… pic.twitter.com/eIIQ6pb9th

— Nigerian Affairs Journal (@NigAffairs) January 22, 2026

Nigeria is currently pushing for new capital inflows as it implements reforms aimed at increasing output, monetizing gas, and strengthening the upstream value chain.
If finalized, Shell’s planned investment would be among the largest external commitments to the country’s energy industry in recent years.