More than $50 billion could be invested in Nigeria’s oil and gas sector over the next five years, according to a senior government official, with about $10 billion of it to be ploughed into two deep-water projects operated by Shell.

However, very few of these proposed investments will start to unfold until the outcome is known of legal appeals against the result of the 25 February presidential election which was won by Bola Tinubu of the ruling All Progressives Congress.