Shell has reaffirmed its long-term commitment to Nigeria’s energy future with a $1.208 billion royalty payment to the federal government in 2024 and a string of new investments aimed at expanding energy access and supporting sustainability.
The payment was made by Shell Nigeria Exploration and Production Company (SNEPCo) and Shell Nigeria Gas (SNG), and was disclosed during the recent oil and gas conference in Abuja. Shell’s Business Value Manager, Chidi Nkazi, announced the figures while showcasing the company’s achievements to top government officials, including Minister of State for Petroleum Resources Heineken Lokpobiri and NNPC CEO Bayo Ojulari.
Nkazi also spotlighted Shell’s strategic investments, including the Final Investment Decision (FID) on the $5 billion Bonga North deep-water development. He revealed that SNEPCo has raised its equity in Oil Mining Lease (OML) 118—home to the Bonga field—from 55% to 67.5% after acquiring an additional 12.5% stake from TotalEnergies.
SNG, another Shell subsidiary, currently supplies gas to over 140 industrial and commercial clients across Ogun, Abia, and Rivers States, contributing to local industrial growth. In the renewables space, Shell-backed All On now supports 51 energy companies delivering more than 210,000 off-grid energy connections nationwide.
Daystar Power, part of Shell’s renewable portfolio, continues to offer integrated solar power solutions to businesses across five African countries, including Nigeria.
Nkazi highlighted that Shell’s social investment footprint includes significant contributions to education, healthcare, employment creation, and infrastructure in communities across the country.
Speaking at the same conference, SNEPCo Managing Director Ronald Adams stressed that Shell remains committed to unlocking more opportunities in Nigeria. While reaffirming plans for projects like Bonga Southwest and HI, Adams said timelines for further FIDs are still under review.
Shell’s renewed focus on expanding its energy footprint comes as Nigeria pushes to increase domestic energy availability and transition toward a more sustainable future.
