Pledges Swift Regulatory Approval
Nigeria supports Shell’s decision to sell its onshore oil and gas assets, according to the country’s junior oil minister.
Shell recently announced its exit from onshore and shallow water operations in Nigeria, opting to sell to a consortium of local companies and focus on deep offshore fields.
Nigeria’s minister of state for petroleum emphasized the government’s commitment to a business-friendly environment and assured timely regulatory approval for the transaction.
Despite concerns about potential negative impacts, the minister called for strategic investment in the fossil fuels sector to bolster the economy and ensure energy security amid the global transition to renewable energy.