News
Shell Paints Gloomy Picture Of N’ Delta
The leading oil and gas multinational company in Nigeria, Shell Petroleum Development Company (SPDC) has openly painted a gloomy picture of the future of the oil-rich Niger Delta, listing three key reasons why the region has become unattractive for investors.
Shell specifically aligned the declining interest by investors in the region to restiveness, sabotage of facilities and pipeline vandalism as well as the precarious nature of the region’s unfriendly business environment.
The General Manager, External Relations, Shell Petroleum Development Company (SPDC), Mr Igo Weli, who revealed this in Port Harcourt during an SPDC-sponsored one-day engagement for stakeholders from Abia State and Etche in Rivers state, yesterday, added that the company was working to ensure that it was part of the solution and not the problem of the region.
Weli stated, “SPDC-JV wants to be part of the solution and not contribute to the problem in the Niger Delta region”, adding that “this is why we planned this stakeholders’ engagement to facilitate dialogue and negotiate issues at this point in time.
“Looking at the situation of things, in terms of the value this region can get from oil and gas operation and the opportunity the presence these resources can avail, SPDC felt the need for improvement, and decided to collaborate and engage all stakeholders in order to find better solution that would benefit the region.”
The general manager stressed that the region was in much better place in the past than it is today, explaining that “In the past, the Niger Delta was the destination of choice for young graduates and new businesses from elsewhere but today, the reverse is the case, as even the Niger Deltans now sell their houses to go to Lagos”.
“We were in the much better place in the past, unless we want to be economical with the truth and fact. Decades ago, this was the destination of young graduates, new businesses and everything. Why has that changed? Why is it that suddenly nobody wants to come to Niger Delta? Nigerian investors do not have confidence to put their money here. Even the Niger Deltans now sell their houses here to go to Lagos. The case has really become terrible”, Weli said, but quickly added that the company was working round the clock to get the region back on track to its pride of place as the nation’s business hub.
“The Niger Delta is no longer attractive to investors, as most businesses have already left with new and potential investors preferring to invest in other places like Lagos.
“There are issues in Nigeria today but there are parts of the country that are still working. Even in the midst of these issues and challenges, Lagos is making progress”.
Susan Serekara-Nwikhana
News
Cleric Predicts Breakthrough, Warns of Political and Security Challenges in 2026
News
Ado Royal Family Disowns Alleged Installation of Amanyanabo of Okrika
News
PH Traders Laud RSG’s Fire Safety Sensitisation Campaign
