NNPC Gets Presidential Approval For $20Bn Final Investment Decision On Bonga Deepwater Project

His Excellency, President Bola Ahmed Tinubu GCFR, has approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project, marking a milestone in Nigeria’s ongoing drive to attract strategic investments and accelerate sustainable economic growth.

The project is estimated to attract about $20 billion in Foreign Direct Investment and position Nigeria for a new era of deepwater production.

The approval followed months of intensive technical and commercial negotiations involving NNPC Limited as the concessionaire, the Nigeria Revenue Service (NRS), the Special Adviser to the President on Energy, Olu Verheijen, and the Shell CEO Mr. Wael Sawan. It represents the culmination of the President’s directive, issued during a courtesy visit by Shell CEO, Mr. Wael Sawan, to fast-track the enablers required to move this strategic national asset to FID. It signals renewed confidence in Nigeria’s policy direction and its resolve to translate reform momentum into tangible investment outcomes.

Speaking on the development, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, stated:

“This approval is a testament to the President’s leadership, NNPC’s disciplined execution and our ability to structure complex, bankable transactions that deliver value for Nigeria. For nearly two decades, the Bonga Southwest project remained stalled. Today, under President Tinubu’s reform-driven leadership and through NNPC’s sustained advocacy, we have broken that logjam. This is what partnership, persistence, and policy clarity can achieve.”

Ojulari further stated, “This milestone further affirms NNPC’s commitment, under the President’s leadership, to unlocking Nigeria’s vast energy potential through partnerships, disciplined innovation and execution excellence”.

The Bonga Southwest project will be the first FID on a Nigeria deepwater Production Sharing Contract asset since 2008, re-establishing Nigeria as a premier deepwater investment destination. The fiscal package approved by President Tinubu includes an enhanced Production Tax Credit and resolution of the 2021 dispute settlement agreement, creating a competitive framework that balances national value with investor returns.

NNPC Limited, as concessionaire, worked closely with SNEPCo and the broader contractor party to develop alternative fiscal solutions that address structural constraints while protecting Nigeria’s long-term interests. The approval was granted rigorous evaluation by the National Revenue Service and submission of recommendations to the Presidency.

This milestone reinforces NNPC’s strategic pivot toward partnership-driven growth. By aligning with global majors like Shell and securing the enabling fiscal environment, NNPC Ltd is translating the President’s investment reform agenda into tangible outcomes—jobs, revenues, and energy security for Nigerians.

NNPC

With Presidential approval secured, NNPC Limited and its partners will now progress toward FID, triggering the multi-billion-dollar capital commitment that will transform Nigeria’s deepwater landscape and deliver enduring value to the nation.

The Bonga Southwest Aparo project, operated by Shell with all IOCs in Nigeria as partners, will create over 5,000 direct and indirect jobs, and deliver 150,000 barrels per day of crude oil and 140 million standard cubic feet per day of gas upon completion.

Andy Odeh
Chief Corporate Communications Officer
NNPC Limited
Abuja.

Abuja: Fire Guts Section Of Federal Secretariat

Abuja: Fire guts section of federal secretariat. There was panic at the federal secretariat in Abuja on Monday morning after a section of the office of the head of service of the federation caught fire.

Eyewitnesses said the fire was first noticed at about 8:20am. Social media footage showed plumes of black smoke billowing from the affected section of the building.

The incident occurred at Section C of the building within the federal secretariat complex.

Staff members were seen evacuating the area after emergency responders had been alerted.

The media department of the office of the head of service confirmed the incident.

The office said the outbreak was limited to Section C of the building.

Fire Guts Section Of Federal Secretariat

Officials said emergency responders were already working to contain the fire.

“The fire outbreak is limited to Section C of the building and is currently being attended to by emergency officials,” the office said.

The cause of the fire had yet to be disclosed at the time of filing this report.

Abuja (FCT)
federal secretariat in Abuja
head of service office in Abuja.

Akwa Ibom, Cross River Will Remain Brothers, Says Governor Eno

Akwa Ibom, Cross River will remain brothers, says Governor Eno…commends Helen Ukpabio for steadfast service to God, Humanity.

Akwa Ibom State Governor, Pastor Umo Eno, has reaffirmed the enduring bond between the people of Akwa Ibom State and Cross River State, describing both as brothers who must continue to live in peace and harmony.

The governor gave the assurance during a special Sunday worship service at Liberty Gospel Church in Calabar, where he urged Akwa Ibom indigenes residing and working in Cross River to promote peaceful coexistence and support the development of both states.

According to him, the historical relationship between the two states remains strong despite the creation of Akwa Ibom out of Cross River.

“The people of the two states will continue to be brothers because of our bond. Our unity, oneness and peace have always been our goal,” the governor said.

He noted that Akwa Ibom residents in Cross River should continue to pray for and work towards the peace and progress of their host state.

“Akwa Ibom State was created out of Cross River State, but then, we are still brothers. Those of you living here must not stop praying for the peace of Jerusalem as instructed in the Bible. Cross River State is your Jerusalem because you are resident here. Continue to live in peace, love and brotherliness for our overall growth,” he said.

Governor Eno also lauded the virtues of Apostle Helen Ukpabio, describing her as a servant of God whose life and ministry reflect integrity, dedication and compassion for humanity.

He urged the cleric to remain steadfast in her divine calling, noting that criticism often accompanies meaningful work and should not discourage those with genuine vision.

“As a matter of fact, I have come to learn that if people do not disagree with what you are doing, then you are not doing anything. They are free to disagree because God did not give them the vision but you,” he stated.

The governor further commended Apostle Ukpabio for what he described as being “consistently consistent” in her commitment to drawing people closer to God through her ministry.

Umo Eno

In her sermon titled “Commanding the Blessing,” drawn from Book of Psalms 133:3, Apostle Akpabio explained that blessings are superior to curses and often manifest through God’s pronouncements of multiplication and dominion in the lives of believers.

She urged Christians to maintain personal and environmental cleanliness as a way of positioning themselves to receive God’s blessings in their lives and endeavours.

The cleric also described Governor Eno as a compassionate leader and pastor whose administration has demonstrated commitment to people-oriented development.

She thanked the governor for attending the church service and prayed for the continued success of his administration, asking God to grant him strength, grace and wisdom to lead Akwa Ibom State to greater heights.

Members of the governor’s entourage included the Dean of the College of Commissioners and Commissioner for Local Government and Chieftaincy Affairs, Frank Archibong; former senator Effiong Bob; President General, ARISE with Renewed Hope Initiative, Engr. Uwem Okoko; Commissioner for Information, Aniekan Umanah; and Commissioner for Works and Fire Service, Eno Ibanga, among others.