Reported by: Agande Richard Aondofa | Edited by: Henry Owen
Abuja, October 14, 2025 — President Bola Ahmed Tinubu has welcomed Shell’s $2 billion Final Investment Decision (FID) for the development of a new Non-Associated Gas (NAG) project in the shallow offshore HI Field, located in OML 144. The project is expected to produce approximately 350 million standard cubic feet of gas per day from 2028, fulfilling nearly a third of the requirements for Nigeria LNG Limited’s Train 7 project.
The announcement marks Nigeria’s third major upstream oil and gas investment in the last 18 months, following the Ubeta NAG project and the Bonga North deepwater project, and brings total investment commitments through FIDs since 2023 to over $8 billion. These milestones underscore the impact of President Tinubu’s ongoing energy sector reforms and reflect renewed confidence from global investors in Nigeria’s gas potential.
Since 2024, directives from the Office of the Special Adviser to the President on Energy have introduced fiscal incentives, streamlined regulatory processes, reduced contracting costs, and cut approval times, creating a more attractive environment for both domestic and foreign investors. The HI gas project, first discovered in 1985, is being advanced under Presidential Directive 40, which established a competitive framework for Non-Associated Gas in onshore and shallow offshore fields.
Olu Arowolo Verheijen, Special Adviser on Energy, stated that the HI and Ubeta projects will secure the gas needed to make NLNG Train 7 transformative, strengthening Nigeria’s LNG exports, expanding domestic LPG supply, reducing imports, boosting foreign exchange earnings, and increasing access to clean cooking for millions of households. He added that additional FIDs are expected in the near future, highlighting that sound policies are driving both investment and economic impact.
Peter Costello, Shell’s Upstream President, reaffirmed the company’s commitment to Nigeria’s energy sector, emphasizing that the HI project will expand Shell’s Integrated Gas portfolio while supporting Nigeria’s ambitions in the global LNG market.
The NLNG Train 7 project will add 8 million metric tonnes of LNG annually, increasing Nigeria’s production by 35 percent. The project is expected to generate employment, stimulate economic growth, and create opportunities for small and medium-sized enterprises in host communities.
President Tinubu stressed that the Shell investment validates his administration’s reform agenda and sends a clear message that Nigeria is open for business and ready to attract global investment.
📩 Stone Reporters News | 🌍 stonereportersnews.com | ✉️ info@stonereportersnews.com
📘 Facebook: Stone Reporters | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments