- Nigeria’s President Muhammadu Buhari met with Shell on Wednesday as part of talks that could lead to a $15 billion investment in his country.
- Oil accounts for approximately 35 percent of Nigeria’s gross domestic product, according to OPEC.
Justina Crabtree | @jlacrabtree: 19 April 2018
Nigerian President Muhammadu Buhari met with Shell on Wednesday as part of talks he said were to secure $15 billion of investment in his country.
“I saw Shell Group, they came here, they saw me, they are preparing to invest $15 billion in Nigeria… so really, we are not doing too badly,” Buhari said to applause at the Commonwealth Business Forum in London on Wednesday. He was speaking as part of a panel on the ease of doing business between Commonwealth countries.
Shell confirmed to CNBC that the meeting had taken place, but did not comment on the size of the specific investment.
A spokesperson said in a statement: “Nigeria is an important country for Shell. We see good opportunities there for potential investment,” referencing its Bonga offshore oil field and the expansion of liquefied natural gas as examples of this. “Both projects are subject to a future final investment decision and we continue to work with our partners and the government towards that in each case.”
Shell’s statement added: “The potential investments feature as options in our long-term plans and would fit within our capital spending range of $25 to $30 billion per year if we decide to go ahead with them.”
Oil price volatility has hit Nigeria’s economy — the largest on the African continent — hard. In 2016, the country suffered its first full-year recession in 25 years. Economic growth remains sluggish, expected by the International Monetary Fund (IMF) to be 2.1 percent for 2018, well below the emerging market average of 4.9 percent.
Oil accounts for approximately 35 percent of Nigeria’s gross domestic product, according to the Organization of the Petroleum Exporting Countries (OPEC), of which Nigeria is a member.
Buhari referenced that, as of October, Nigeria had risen 24 places in the World Bank’s Ease of Doing Business ranking to 145th out of a total of 190 economies.
“We acknowledge that much more is to be done,” he said. “We are now in the next stage, this is work in progress.”
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
