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Shell punctures FG’s FDI drive, claims N’Delta no longer attractive

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Fresh disquiet on the profitability of foreign direct investments (FDIs) in Niger Delta was created on Thursday, by the General Manager, External Relations, Shell Petroleum Development Company (SPDC), Igo Weli, by saying that the region was no longer attractive for investment.

Explaining issues in Port Harcourt on the sideline of an SPDC sponsored two-day meeting with stakeholders in Abia and Rivers states, he said “The Niger Delta is no longer attractive to investors, as most businesses have already left with new and potential investors preferring to invest in other places like Lagos”.

According to him, the cause of the loss of confidence cannot be unconnected to the restiveness, damage of facilities and the unpredictable nature of the region’s business environment.

Continuing, he said, “There are issues in Nigeria today but there are parts of the country that are still working. Even in the midst of these issues and challenges, Lagos is making progress”.

“Investors are going to Lagos because of the choices the state government makes and the way they organise themselves and the confidence that gives to investors, which is the reverse in the Niger Delta.

“If Dangote could invest 18 billion dollars to build a refinery in Lagos that ordinarily should be sited in the Niger Delta, then the Niger Delta should be seriously concerned.

“The region is depriving itself of investment, employment and business opportunities because of endless agitations and choices it took out of anger,” the SPDC official said.

He revealed that apart from the over 149,000 new jobs coming with the Dangote refinery, the economies of Lagos and other South-Western states will be positively impacted from completion of the mega refinery which ordinarily should have been located in Niger Delta.


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