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    Home » President Departs for Türkiye Following Landmark $20 Billion Shell Investment Pledge
    economy

    President Departs for Türkiye Following Landmark $20 Billion Shell Investment Pledge

    Ifetayo AdeniyiBy Ifetayo AdeniyiJanuary 26, 20262 Mins Read
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    Manny Ita

    President Bola Ahmed Tinubu departed the Nnamdi Azikiwe International Airport in Abuja on Monday for a high-profile state visit to Türkiye, marking a significant escalation in Nigeria’s pursuit of strategic defense and economic partnerships. The visit, which follows an invitation from President Recep Tayyip Erdoğan, is designed to strengthen bilateral ties in security, defense technology, and cross-border trade. Accompanying the President is a high-powered delegation including the Minister of Foreign Affairs, Yusuf Tuggar, and the National Security Adviser, Nuhu Ribadu, signaling that the primary focus of the Ankara summit will revolve around the acquisition of advanced military hardware and intelligence-sharing frameworks.

    ​The diplomatic mission comes at a moment of renewed domestic economic optimism following a pivotal meeting between the Presidency and Shell PLC leadership. Before his departure, Shell CEO Wael Sawan announced a massive $20 billion investment plan specifically targeting Nigeria’s deepwater energy sector, including the long-awaited Bonga South West project. Sawan explicitly credited the administration’s recent policy shifts for the move, praising the President’s “visionary leadership” and noting that the reforms have provided the clarity necessary for such a historic capital commitment. This investment is expected to significantly bolster Nigeria’s daily oil production, with the Bonga South West project alone estimated to hold reserves of approximately 820 million barrels.

    ​In Türkiye, President Tinubu is expected to oversee the signing of multiple Memoranda of Understanding (MoUs) spanning scientific research, innovation, and media communications. Central to the security talks is the potential expansion of Nigeria’s fleet of Turkish-manufactured Unmanned Aerial Vehicles (UAVs), which have become a cornerstone of the nation’s counter-insurgency operations. The President is also scheduled to attend a Nigeria-Türkiye Business Forum, where he will pitch Nigeria’s solid minerals and manufacturing sectors to Turkish conglomerates. The visit is viewed by analysts as a dual-track strategy to modernize the nation’s security architecture while capitalizing on the momentum of the Shell deal to attract further foreign direct investment.

    Economy
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    Ifetayo Adeniyi
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    Adeniyi Ifetayo Moses is an Entrepreneur, Award winning Celebrity journalist, Luxury and Lifestyle Reporter with Ben tv London and Publisher, Megastar Magazine. He has carved a niche for himself with over 15 years of experience in celebrity Journalism and Media PR.

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