Shell Group to invest $15bn in Nigeria – Buhari

Buhari at Commomwealth Business Forum

President Muhammadu Buhari has said Shell Group plans to invest $15 billion in the Nigerian economy.

Buhari made the statement while answering questions at the business forum of the Commonwealth Head of Government Meeting (CHOGM 2018) in Westminster, London.

He also called on foreign investors to invest in Nigeria, adding that Nigeria is safe for business.

He said, “On security, certainly, both in the northeast and in the south-south, there has been an improvement in the security of the country,” he said.

“This morning, before I came here, I saw Shell Group. They came to see me, and they are preparing to invest $15 billion in Nigeria.

“Really, we are not doing too bad, and I think you should get in touch with your colleagues back at home, and tell them to think very clearly and positively on what this administration is doing.”

In his initial speech at the forum, Buhari said the Commonwealth should avoid trade wars and employ opportunities presented by trade to spur growth in the global community.

He said, “The surest, most sustainable way to lift millions of people out of poverty in the Commonwealth is through trade and investment,” the President added.

“We as leaders must grab the opportunity to focus on trade and investment for inclusive development. I urge the Commonwealth Business Forum and prospective investors to join Nigeria.

“The ongoing Nigerian experience to this end is illustrative in an enabling environment for business, which was and remains one of my priorities as president. We are undertaking deep and extensive ease of doing business reforms.

“Some of our lessons may be useful for the Commonwealth family; Nigeria’s doors are open for business. Nigeria is and shall remain an open trading economy, deep in integration and governed by the rule of trade law.”