Resources Don’t Make A Nation Rich – Reforms Do: Shell MD Adams Warns Nigeria As Global Capital Race Heats Up

Nigeria must sustain the momentum of reform, accelerate investment and deepen partnership if she is to secure a bright energy future for her teeming population.

That was the stark warning from Ronald Adams, Managing Director of Shell Nigeria Exploration and Production Company of Nigeria Limited, SNEPCo, at the weekend in Lagos.

A statement from Gladys Afam-Anadu, Company’s Communications Manager, quoted Adams to have spoken while delivering the keynote address at the 4th Africa Energy Conference of the Lagos Business School, a gathering of the country’s energy brains trust.

This year’s theme was pointed: “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilisation, and Pathways to a Sustainable Power and Energy Market.”

The conference, held at Pan-Atlantic University, attracted top government officials, industry captains, energy professionals and students.

Adams, whose company was a principal sponsor and mounted a well-received exhibition on its deepwater operations and social investments, outlined three imperatives for Nigeria.

He called for regulatory certainty through efficient execution of reforms, sustained investment appeal to move projects swiftly from opportunity to production, and stronger partnership among operators, regulators, NNPC Limited and host communities.

He acknowledged Nigeria’s huge oil and gas resources as a clear advantage, but warned that endowment alone is not destiny.

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“Resources alone do not guarantee prosperity. Prosperity comes when resources are matched with investment, technology, sound policy and disciplined execution. Success will be determined not by the size of our resources, but by our ability to convert them into investment and economic growth,” Adams said.

Adams pledged Shell’s continued commitment to Nigeria’s energy future, pointing to a partnership that spans more than six decades.

“For more than six decades, Shell has been part of Nigeria’s energy journey. Together with our partners, we have helped develop major energy infrastructure, supported Nigerian businesses, invested in talent, and contributed to economic development. Bonga remains a powerful example of what technology, partnership and Nigerian capability can achieve in deepwater operations. Today, that story continues through Bonga North,” he stated.

But he issued a clarion call for urgency, warning that the global energy investment map is being redrawn fast.

“The world is not standing still. Capital is moving, technology is advancing and competition is intensifying. The countries that attract investment tomorrow are those that improve competitiveness today. Nigeria has begun that journey. Our task is to sustain the momentum and translate reform into projects, projects into growth, and growth into shared prosperity,” he added.

The event was graced by Lagos State Deputy Governor Obafemi Hamzat, who represented Governor Babajide Sanwo-Olu as guest of honour.

Also present were the President of the Lagos Business School Energy Club, Sebilat Quadri, and the Dean of Lagos Business School, Olayinka David-West, who joined Adams and Hamzat in a group photograph at the conference.

NOP NIGERIA