Shell to invest $15bn in Nigeria, Buhari says

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The Shell Group is preparing to invest $15bn in Nigeria, President Muhammadu Buhari said yesterday.

The president disclosed this at the Commonwealth Business Forum at Guildhall, London, where he also  canvassed for a healthier business relationship among Commonwealth nations.

“Before I came here (Commonwealth Business Forum), the Shell group came and saw me; they are preparing to invest $15bn in Nigeria. They came and broke the news to me,” the president said.

Earlier in a keynote address, the president said the Commonwealth nations “must avoid trade wars and work collectively to preserve the global trading order”.

In a statement by his spokesman Mr Femi Adesina, the president also challenged the member states to support regional integration.

The Commonwealth Business Forum (CBF) with the subject “Making Business Easier between Commonwealth Countries” was part of events at this year’s Commonwealth Heads of State Meeting (CHOGM).

Buhari said member-countries must also support regional initiatives and domestic structural reforms that focus on the priorities of individual countries.

He identified trade and investment facilitation to generate resources for sustainable development; ease of doing business and regional integration that expands markets with safeguards against injurious trade practices from third parties; more inclusive growth with the empowerment of women and the youth as factors that are capable of making business among Commonwealth countries easier.

President Buhari called on the Commonwealth Business Forum and prospective investors in the Nigerian economy, to participate in the 2018 UK/Nigeria Trade and Investment Forum” at the London Stock Exchange.

 

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Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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