Dollar-rich investors have reacted to President Tinubu s radical reforms by rushing to the door, President Bola Tinubu s great gamble that shock therapy – ending subsidies and devaluing the naira – would bring back foreign capital and stabilise state finances isn t working. Instead, the naira is plumbing new depths against the US dollar each week and a slew of multinational companies are selling their assets.
Companies accused of under-investment – arrangements on financing and liability for pollution may be contested, When the British-Dutch oil major Shell announced on 16 January that it would be selling its interests in 18 oil licences in shallow water and onshore Niger Delta it raised awkward questions about the industry s future in Nigeria.
The exit of Shell from Nigeria's onshore oil market thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Shell's announcement of the sale of its Nigerian onshore subsidiary is a sign that President Bola Tinubu has made a break with the policies of his predecessor. The buyer, a consortium led by Samuel