Shell Urges Reforms, Investment, Partnership To Secure Nigeria’s Energy Future
Shell has called for sustained reforms, increased investment and stronger partnerships among industry stakeholders to secure Nigeria’s energy future and promote economic growth.
The Managing Director of Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), Mr Ronald Adams, made the call at the fourth Africa Energy Conference organised by Lagos Business School in Lagos.
Mrs Gladys Afam-Anadu, Shell’s Communications Manager, disclosed this in a statement made available to newsmen.
Adams, who delivered the keynote address at the conference, said Nigeria needed regulatory certainty, effective implementation of reforms and an investment-friendly environment to accelerate the development of its energy resources.
He also stressed the need for stronger collaboration among operators, regulators, NNPC Ltd. and host communities to unlock the value of the country’s oil and gas resources.
According to him, Nigeria’s vast natural resources alone cannot guarantee prosperity without investment, technology, sound policies and effective implementation.
“Resources alone do not guarantee prosperity. Prosperity comes when resources are matched with investment, technology, sound policy and disciplined execution.
“Success will be determined not by the size of our resources, but by our ability to convert them into investment and economic growth,” he said.
Adams reaffirmed Shell’s commitment to supporting Nigeria’s energy development, noting that the company had contributed to the country’s energy sector for more than six decades.
He said Shell, working with its partners, had helped develop major energy infrastructure, supported Nigerian businesses, invested in talent development and contributed to economic growth.
The SNEPCo managing director cited the Bonga deepwater project as an example of the achievements possible through technology, partnership and Nigerian expertise.
“Bonga remains a powerful example of what technology, partnership and Nigerian capability can achieve in deepwater operations. Today, that story continues through Bonga North,” he said.
Adams urged stakeholders to sustain the momentum of ongoing reforms, warning that global competition for investment was intensifying amid rapid technological advancement.
“The world is not standing still. Capital is moving, technology is advancing and competition is intensifying.
“The countries that attract investment tomorrow are those that improve competitiveness today. Nigeria has begun that journey,” he said.
He added that the country needed to translate reforms into projects, projects into economic growth and growth into shared prosperity.
The conference, the fourth in the series, was held under the theme, “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilisation, and Pathways to a Sustainable Power and Energy Market.”
It attracted government officials, industry leaders, energy professionals and students.
The Lagos State Deputy Governor, Dr Obafemi Hamzat, represented Governor Babajide Sanwo-Olu as the guest of honour.
The statement added that SNEPCo was a principal sponsor of the conference and showcased its deepwater operations and social investment initiatives across Nigeria through an exhibition.
