Shell’s Osagie Okunbor Optimistic About Nigeria’s Oil and Gas Future at Economic Summit

Osagie Okunbor, Managing Director of Shell Petroleum Development Company (SPDC) and Chairman of Shell Companies in Nigeria, has expressed confidence in the future of Nigeria’s oil and gas sector.

Speaking during a panel session at the recently concluded Nigeria Economic Summit in Abuja, Okunbor highlighted the sector’s potential for growth and sustainability.

Addressing concerns about the industry’s trajectory, Okunbor said, “With the enactment of the Petroleum Industry Act (PIA) and complementary regulations, the oil and gas sector is well-positioned for future success.”

He also praised recent presidential directives, which he said had brought much-needed clarity and cohesion to the industry.

Okunbor reaffirmed Shell’s commitment to Nigeria through its operations under SPDC and Shell Nigeria Exploration and Production Company (SNEPCo), stressing the importance of collaboration in driving innovation and reducing risks.

“Through strategic partnerships, we’ve been able to share knowledge, pool resources, and mitigate risks, resulting in more efficient and sustainable operations,” he said.

He also underscored Shell’s role in advancing technology and improving operational efficiencies within the Nigerian oil and gas landscape.

Okunbor highlighted the company’s dedication to local content development, which he said had contributed significantly to job creation and economic growth.

“We remain committed to engaging with local communities and building long-term, sustainable relationships to meet their needs and foster socio-economic development,” he added.

In closing, Okunbor emphasized that Shell would continue to contribute to Nigeria’s development through collaboration and investment in the nation’s energy sector, ensuring long-term progress and stability.

0