Shell made the approval of the sale of its controversial assets in the Niger Delta a condition of fresh investments off the coast of Nigeria, according to people familiar with the deals.
The Anglo-Dutch company said on Monday it had made a final decision to invest a reported $5bn in the Bonga North project, a deepwater field 130 kilometres off the west African coast. The investment is a boost for President Bola Tinubu’s drive to attract much-needed capital into the Nigerian economy.
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