Managing Director of Shell Petroleum Development Company Limited (SPDC) and Chairman of Shell Companies in Nigeria, Osagie Okunbor, shared an optimistic outlook on the future of Nigeria’s oil and gas industry during a panel session at the just concluded Nigeria Economic Summit in Abuja.
Speaking on the theme “Fuelling Growth: The Future of Oil and Gas,” Okunbor addressed concerns surrounding the industry, stressing it is far from declining. “With the enactment of the Petroleum Industry Act and other supporting regulations, the industry is in a much better place,” he remarked. He also noted that recent presidential directives have introduced much-needed coherence to the sector.
Okunbor highlighted Shell’s commitment to its operations in Nigeria, primarily through SPDC and Shell Nigeria Exploration and Production Company (SNEPCo). He said: “Through these companies, we collaborate with partners on knowledge sharing, resource pooling and risk mitigation, leading to more efficient and sustainable operations.”
He emphasised the importance of Shell’s technical expertise and resources in supporting Nigerian operations, which contribute to technological advancement and improved efficiencies.
In addition, Okunbor underscored Shell’s dedication to local content development, which has helped to boost economic growth and create job opportunities for Nigerians. “We actively engage with local communities to address their needs and build sustainable relationships, demonstrating our commitment to social responsibility,” he said.
Okunbor added that Shell would continue to power progress in Nigeria through sustained collaboration for the socio-economic development of the country.