According to a report by Nigeria Business on Google News, the new owner of British oil giant Shell’s Nigerian onshore business has secured $4.1 billion in contractor financing with 13 banks. The exact identities of the banks and the details of the financing agreement were not disclosed in the report. This development is significant as it indicates a strong commitment from the new owner to invest in the Nigerian oil sector. The new owner’s decision to invest such a large sum into the Nigerian oil sector could have positive implications for the Nigerian economy and the local oil industry. It is expected that this investment will create jobs and boost economic growth. However, it remains to be seen how the Nigerian government will regulate this investment to ensure transparency and accountability. The new owner is yet to be identified in the report, but it is widely speculated that the new owner is a Nigerian conglomerate. It is unclear when the new owner took over Shell’s Nigerian onshore business, as the report did not provide that information.
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