Nigeria’s push to attract fresh investment into its deep offshore oil sector has received a boost, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reaffirming its support for Shell Nigeria’s operations.
The development comes as the Federal Government works to unlock about $50 billion in deep offshore investments, with the estimated $10 billion Bonga South West project expected to play a major role in the investment drive.
The NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, made the commitment when she received Shell Nigeria’s newly appointed Executive Vice President and Country Chair, Elohor Aiboni, at the commission’s headquarters in Abuja.
The meeting focused on Shell’s ongoing projects and the need to create a stronger environment for investment in Nigeria’s oil and gas industry.
According to the commission, Eyesan described NUPRC as a business enabler, stressing that the regulator would continue to work with oil producers and other industry players to support investment and production.
She said the commission remained committed to helping Nigeria achieve its target of producing three million barrels of crude oil per day by 2030.
The renewed engagement with Shell comes at an important time for Nigeria’s petroleum industry. The government is looking for ways to bring more capital into deep offshore projects, which require huge investments and long development periods.
The Bonga South West project is considered one of the key projects that could benefit from the renewed investment push. If successfully developed, it could contribute significantly to Nigeria’s future crude oil production and strengthen the country’s position as a major oil-producing nation.
For Shell, the meeting also marked an important moment under the leadership of Aiboni, who officially became the company’s Executive Vice President and Country Chair in Nigeria on August 1, 2026.
Her appointment is historic, making her the first woman to occupy the combined position in Shell’s 60-year history in Nigeria.
Aiboni took over from Marno de Jong, who retired after more than six years leading Shell’s Nigerian operations and 34 years with the company.
She brings more than 24 years of experience with Shell, having worked across its onshore and offshore operations in Nigeria as well as international assignments in Kazakhstan and Brunei.
Before her current appointment, Aiboni served as Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), becoming the first woman to hold that position in 2021.
During her tenure, SNEPCo achieved a major milestone when the Bonga field produced its one billionth barrel of oil in 2023.
Her appointment and the latest engagement with NUPRC could strengthen cooperation between Shell and Nigeria’s petroleum regulator as the country seeks to attract billions of dollars into offshore developments.
For Nigeria, unlocking these investments could mean higher oil production, increased government revenue, more jobs and stronger economic activity around the petroleum sector.
The government’s ability to provide stable policies, efficient regulation and investor confidence will therefore remain critical to turning the planned $50 billion investment opportunity into actual projects.
