Nigeria, Oct. 14 -- British energy giant Shell has signed an agreement to sell its full interest in Shell Nigeria Gas Group to indigenous energy firm Vaaris Energy Limited, marking its planned exit from Nigeria's domestic gas distribution business.

Shell announced the deal in a statement on Tuesday, noting the transaction forms part of the strategy to simplify its portfolio and concentrate investments on areas of competitive strength.

"Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people," Elohor Aiboni, Shell's country chair in Nigeria, said.

"We believe this agreement provides a much stronger platform for the business' next chapter ...