Nigeria stands at a pivotal junction where it can transform the inherent complexities of the oil and gas industry into massive opportunities for national development.
This strategic outlook was shared by the Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Ronald Adams, at the 10th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) held in Lagos this week.
Speaking during a high-level panel session titled “IOCs – De-risking Investments in African Oil and Gas Projects,” where he was represented by SNEPCo’s Finance Director, Tunde Oduwole, Adams asserted that Nigeria remains a primary proof point that Africa is "investable."
He described the country as a "test case for African de-risking," emphasizing that long-term predictability is the ultimate currency for attracting global capital.
He noted that when there is long-term predictability of the investment climate in terms of competitive and stable fiscal and regulatory frameworks, risks can be actively managed to unlock significant capital for growth and development, even in challenging environments.
SNEPCo highlighted that the government's current vision for the energy sector, evidenced by ongoing reforms and constructive dialogue between regulators and operators, has been instrumental in boosting investor confidence.
This improved climate has already translated into tangible milestones, specifically the Final Investment Decisions (FIDs) on Bonga North in 2024 and the HI project in 2025.
The sustained performance of the Bonga field for over two decades was cited as a prime example of what happens when technical excellence meets disciplined maintenance and human capital investment.
SNEPCo maintains that such operational stability does more than just produce oil; it acts as a beacon for the entire deep-water sector, signaling to global markets that Nigerian projects can compete and win on a global scale.
Beyond Nigerian borders, SNEPCo views the "Nigerian Experience" as a scalable model for the rest of Africa. By aligning technical expertise with regulatory foresight and robust local content capability, the nation provides a blueprint for accelerating project timelines and sustaining value creation.
As the continent’s energy landscape continues to evolve, the message from SNEPCo is clear: while the risks in deep-water exploration are high, the rewards, when protected by a stable and transparent regulatory nexus, are even higher.
By Chuks Egbune/Editor
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