Government won’t delay Shell’s asset sale, minister assures

MINISTER of State for Petroleum ( Oil), Heineken Lokpobiri, said the federal government would not delay the sale of assets of Shell if nec essar y clearances are done.

Earlier this week, Shell, one of Nigeria’s largest and old - est oil producers, was in the news over the decision to sell its onshore arms to a consortium of Nigerian firms, Renaissanceenergy.

Lokpobiri, in a press release signed by his Special Adviser on Media, Nneamaka Okafor, said the FG was not averse to the asset sale.

Lokpobiri said the Nigerian government was committed to fostering a businessfriendly environment in the oil and gas sector.

Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, Lokpobiri said that Nigeria would not impede legitimate business transactions in the oil and gas sector.

"On the part of the government, once we get the necessary documents, we will not waste time to give the necessary considerations and consent," he said.

Lokpobiri said the divestment does not come at any loss to Nigeria, stressing that the move rather creates opportunities for indigenous companies to have the capacity to acquire and professionally manage the assets, leading to increased profitability and the maximisation of their potential.

The minister said the government was engaging with international oil companies ( IOCS) regarding the decommissioning of non- productive assets and abandonment issues.

He added that the concerns raised by IOCS, particularly with Nigerian banks, have been addressed.

"As a government, we will adhere to the law without jeopardizing legitimate businesses," he said.