[BUSINESS NEWS] BUHARI BACKS MAJOR SHELL PROJECT ON DUTCH TRIP

Nigerian President (Muhammadu Buhari) with Shell represantatives.

PRESIDENT, MUHAMMADU BUHARI, ENDED A FOUR-DAY VISIT TO THE NETHERLANDS ON WEDNESDAY, AFTER EXPRESSING SUPPORT FOR THE INTERNATIONAL CRIMINAL COURT AND GIVING OIL GIANT SHELL APPROVAL FOR A NEW $5 BILLION INVESTMENT DEAL.

ACCORDING TO NIGERIA’S FOREIGN MINISTER, GEOFFREY ONYEAMA, BUHARI WHO HELD TALKS WITH THE ANGLO-DUTCH OIL GIANT, SHELL, AT NETHERLANDS, GAVE THE COMPANY THE NOD FOR A MASSIVE INVESTMENT IN AN OIL AND GAS PROJECT.

HE SAYS BUHARI ALSO HELD BILATERAL TALKS WITH DUTCH PRIME MINISTER, MARK RUTTE, ADDING THAT BOTH COUNTRIES SIGNED A MEMORANDUM OF UNDERSTANDING TO SET UP A MECHANISM TO IMPROVE TRADE.

NIGERIA’S OFFICIAL STATISTICS PUT TRADE VOLUME WITH THE NETHERLANDS AT ABOUT THREE BILLION EUROS IN THE FIRST QUARTER OF 2018, MAKING THE DUTCH THE LARGEST TRADING PARTNER OF AFRICA’S MOST POPULOUS NATION.