The Democratic Front (TDF) has said the announcement of a five-billion-dollar Bonga North Deep Offshore field Final Investment Decision (FID) by Shell, is a sign that Nigeria remains an investment-friendly destination.
In a statement signed by its Chairman, Danjuma Muhammad, and Secretary, Wale Adedayo, TDF noted that the investment was an indication that International Oil Companies (IOCs) still find Nigeria attractive.
“We join President Bola Tinubu in celebrating the Final Investment Decision (FID) by Shell on Bonga North Offshore Field,” the statement said.
It said the investment is the outcome of reforms introduced by the president through the Presidential Directives numbers; 40, 41 and 42.
The Directives were to fast-track regulatory approvals, reduce operational costs and promote competitive fiscal incentives in the oil and gas sector.
The statement said the pertinence of the fresh investment in the sector was not only limited to the value of the investment but also extended to the field’s potential volume of 350 million barrels of crude oil.
