• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Shell Assets Sale: Federal Govt Promises Speedy Consideration, Approval

by Nse Anthony - Uko
1 year ago
in Business
shell assets
Share on WhatsAppShare on FacebookShare on XTelegram

The minister of state for Petroleum Resources, Senator Heineken Lokpobiri, has said the federal government will consider and approve the agreement reached between Shell and a consortium of five Nigerian companies for divestment of Shell’s onshore assets, when it receives all the necessary documents.

Advertisement

Speaking on the sidelines of the World Economic Forum Davos, Switzerland, Lokpobiri affirmed the Nigerian government’s commitment to fostering a business-friendly environment in the oil and gas sector.

He emphasised that the Nigerian government will not impede legitimate business transactions in the oil and gas sector.

He stated, “On the part of the government, once we get the necessary documents, we will not waste time to give the necessary considerations and consent.

“Responding to concerns about international oil companies (IOCs) diversifying their onshore assets, the minister highlighted the positive aspects of the diversification. He noted that Nigeria loses nothing as such moves create opportunities for indigenous companies with the capacity to acquire and professionally manage these assets, leading to increased profitability and the maximisation of their potential.

RELATED

Keystone Bank Empowers Entrepreneurs With SME Business Clinic Nationwide

Keystone Bank Empowers Entrepreneurs With SME Business Clinic Nationwide

13 minutes ago
Inflationary Pressures Hamper Business Operations

Economic Reforms Drag Business Activities To 7-month Low

7 hours ago

Addressing potential negative impacts on the country, Lokpobiri reassured that the diversification would not adversely affect Nigeria. He emphasised the government’s engagement with IOCs regarding the decommissioning of non-productive assets and abandonment issues.

The minister stated that concerns raised by IOCs, particularly with Nigerian banks, have been addressed, assuring a safe environment for the handling of funds related to decommissioning and abandonment.

“As a government, we will adhere to the law without jeopardising legitimate businesses,” he added.

Responding to questions on preventing IOCs from diversifying their upstream operations, the Minister clarified that companies have not left their upstream deepwater assets. Instead, they are diversifying their onshore assets, creating opportunities for local companies with developed capacity and financing to acquire and profitably manage these assets.

The minister reiterated the government’s commitment to addressing sector concerns, including insecurity and ageing infrastructure, such as pipelines.

He highlighted ongoing engagements with companies to invest in pipeline technology and other critical infrastructures within the oil and gas value chain.

Lokpobiri concluded by announcing that the President has approved a licensing bid round, demonstrating the government’s dedication to initiating the process promptly.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Shell
SendShareTweetShare
Previous Post

CSOs Welcome $8.9m Recovery From Arms Deal

Next Post

African Leaders Must Grow GDP Above Current 3% – Shettima

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

Keystone Bank Empowers Entrepreneurs With SME Business Clinic Nationwide
Business

Keystone Bank Empowers Entrepreneurs With SME Business Clinic Nationwide

2025/07/02
Inflationary Pressures Hamper Business Operations
Business

Economic Reforms Drag Business Activities To 7-month Low

2025/07/02
NNPC Declares N674bn Profit For 2021
Business

NNPC, IPPG Chart Path To Delivering 3m Barrels Per Day Oil Target By 2030

2025/07/02
Customs Recovers N72.4m From Importers At Lagos Seaports
Business

Group Discusses Intermodal Cargo Evacuation From Seaports

2025/07/02
LEADERSHIP Awards: Aradel Holdings Plc Is Oil And Gas Local Content Champion Of The Year 2023
Business

Aradel Holdings, Wema Bank Join NGX 30

2025/07/02
Minister Faults OPEC Data, Insists Nigeria Produces 1.7m Barrels Of Oil Daily
Business

Revive Dormant Oil Assets, Lokpobiri Tells Operators

2025/07/02
Leadership Conference advertisement

LATEST

South-East Vocational, Entrepreneurial Studies Institute Underway As Reps Pass Bill For 2nd Reading

Keystone Bank Empowers Entrepreneurs With SME Business Clinic Nationwide

Gov’t Mulls N50m Grant For Tertiary Students, Unveils C’ttee To Commercialise Research

Name Varsity After Dantata, MAAUN Founder Gwarzo Tells Federal Gov’t

Wike To Meet Area Council Chairmen, Others Over FCT Primary School Teachers’ Strike

ADC Announces New Venue To Unveil Leaders After Hotel Cancellation

Court Convicts 2 TikTokers For Abuse Of Naira Notes In Oyo

Mohbad: Court Dismisses Father’s Bid To Quash Release Of Naira Marley, Others

Australia Cancels Kanye West’s Visa Over Nazi-themed Song  

210 Terrorists Surrender To MNJTF Troops In Lake Chad

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.