Kachikwu begs Shell to invest in Power sector

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu has urged oil giant, Royal Dutch Shell to explore the numerous opportunities that exist to invest in Nigeria’s lucrative power sector.

Kachikwu made this call during a working visit to the Shell Headquarters in The Hague, Netherlands, in furtherance of his commitment to achieve key aspirations of the 7BigWins initiative.

He is accompanied by some members of his Technical Team and the Nigerian National Petroleum Corporation (NNPC) led by the Chief Operating Officer, Upstream, Mr. Rabiu Bello.

The minister thanked the Shell team for their sustained investments in Nigeria and reiterated on the commitment of the government of Nigeria in firming up collaborations to deepen investments in the Nigerian Oil and Gas Sector.

He listed the successes of the reviewed process of the Joint Venture Cash Call as a pointer to renewed relationship boost.

Highlighting on the Petroleum Industry Bill with focus on the Petroleum Industry Governance Bill progress, he communicated that it is also a pointer to the resolve to deepen investor relationships.

The focus of the conversations revolved around the following:

  1. PIB/Fiscals Update
    2. Niger Delta
    3. Investments in Nigeria
    4. Capacity / Capability Building
    Kachikwu called attention to the salience of development focused investments as opposed to mere financial investments.

The Shell team led by the Global Upstream Director, Andrew Brown assured that collaborations to close up gaps seen in the industry and creating bridges by resource shares and collaborations are front burners in Shell’s developmental plan for Nigeria.

On the issue of capacity development, Mr. Brown further name-checked the phenomenal contribution of two Nigerians in the leadership of Shell’s Upstream.

Peter Costello, Shell’s Vice President for Nigeria and Gabon, lauded Kachikwu’s leadership with respect to the solutions brought to bear on the Joint Venture Challenges.

Mr. Osagie Okunbor, the Managing Director of Shell Petroleum Development Company of Nigeria Limited, on capacity and capability building, assured that a definitive framework when developed by the Ministry of Petroleum Resources will be fully embraced by Shell.

Distributive renewables, gas flare harvesting and subsequent power generation for host communities are some key initiatives that Shell has indicated their willingness to explore and fully implement.



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