Vice President Kashim Shettima on Monday commended the investments of Shell in Nigeria as he visited the company’s exhibition stand at the opening of the 31st Nigerian Economic Summit (NES) in Abuja.
The exhibition complements the participation of Shell in the summit and features the operations of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Shell Nigeria Gas (SNG), All On and Daystar Power.
Vice President Shettima who had earlier declared the summit open on behalf of President Bola Ahmed Tinubu, was briefed on the contributions of the companies to the economic development of Nigeria, especially the energy sector.
Accompanied by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Minister of Trade and Investment Jumoke Oduwole and the Emir of Kano, Sanusi Lamido Sanusi, VP Shettima said he was impressed with the investments of Shell in deep-water including the $5-billion Bonga North development. Work on the project is in progress following the FID which was taken early last year.
Business Value Manager Chidi Nkazi, who conducted the VIPs round the exhibition stand, also highlighted the impact of Shell’s social investments in health, education and employment generation. “Every year our operations generate revenues which are used to finance development,” Chidi said, adding; “In 2024 alone, Shell Companies in Nigeria paid $1.209 billion in taxes and royalties to the Federal Government.”