Nigeria: Shell Highlights Need for an Enabling Business Environment

10 December 2019

The country Chairman, Shell Companies in Nigeria, and Managing Director, Shell Petroleum Development Company of Nigeria Limited, SPDC, Mr. Osagie Okunbor, has reiterated the call for government to invest in the creation of a stable and enabling business environment for Nigeria to derive optimum value from investments in the oil and gas industry.

Okunbor was speaking in Yenagoa, Bayelsa State, at a panel session on 'Exploring the Private Sector's Role in Creating an Enabling Environment to Spur Industry Activities,' at the 9th Practical Nigerian Content Conference and Exhibition hosted by the Nigerian Content Development and Monitoring Board (NCDMB).

Osagie said, "Nigeria has considerable proven resources in oil and gas. Nigerians have always been considered some of the best experts in the oil and gas industry everywhere in the world. The bit we need to get right is to create a stable and enabling business environment.

"The industry has embraced Local Content. For Shell, Local Content is a big part of our DNA (deoxyribonucleic acid). Implementing Local Content affords us commercial advantage. It is actually good for business," he said.

He however called on industry stakeholders to strive to promote the deepening of local content in the industry.

He said, "It is not something that is a nice to do. But it is good for business."

Earlier, the Executive Secretary of NCDMB, Engineer Simbi Wabote, commended international oil companies' (IOCs) support for the development of Nigerian Content.

Wabote said, "29 per cent of the 30 per cent success that we have today in Nigerian Content is due to the drive of the IOCs. They have been the ones that have driven local content towards our country's status today."

He said the Practical Nigerian Content Forum is an annual NCDMB event in Yenagoa, Bayelsa State, enables industry stakeholders share their experiences, insights into new opportunities, challenges they face in Nigerian Content implementation.

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"This year's theme, Leveraging Local Expertise for Market Growth and Expansion, was chosen in view of the huge progress being made with the implementation of the Nigerian Content 10-year Strategic Roadmap."

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