US EditionNigeria: NNPC Boss Speaks On Shell's Proposed $20bn Bonga Sw Project
President Tinubu approved investment-linked incentives to attract nearly $10 billion in capital expenditure and boost local content and jobs in the Bonga South West deep-offshore project.
- On Thursday, President Bola Tinubu approved the gazetting of targeted, investment-linked incentives to support the Bonga South West deep-offshore project, and Shell has commenced discussions toward a Final Investment Decision with capital expenditure near $10 billion, NNPC said.
- NNPC Group Chief Executive Bayo Ojulari said the targeted, investment-linked incentives are disciplined, globally competitive, and designed to attract new capital without undermining revenues, reflecting investor confidence in President Bola Tinubu's transparency agenda.
- Mr Ojulari said the Bonga South West project would revive Nigeria's fabrication yards and create jobs, with employment spanning 20 to 30 years and sustained demand for the Nigerian workforce and supply-chain services.
- Tinubu mandated his Special Adviser on Energy, Mrs Olu Verheijen, to facilitate gazetting, and NNPC Ltd expects Bonga South West to reach Final Investment Decision within this administration's first term.
- The development positions Nigeria as a critical test case for attracting offshore investments, with Shell citing improved stability and policy under President Bola Tinubu, according to Mr Ojulari and Mr Sawan.
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27 Articles
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The Conditions Behind Shell’s Potential $20bn Nigeria Investment
Shell Plc and its partners in Nigeria are working through plans to develop Bonga South West, a deepwater oil project that could translate into as much as $20 billion in investment if the venture reaches a final investment decision (FID), according to comments by Shell’s Chief Executive Officer, Wael Sawan. Here are five essential facts … The post The Conditions Behind Shell’s Potential $20bn Nigeria Investment appeared first on Business Elites A…
Tinubu Approves Investment-Linked Incentives to Fast-Track Bonga South West Project
President Bola Ahmed Tinubu has approved the formal gazetting of targeted, investment-linked incentives aimed at accelerating the development of Shell’s proposed Bonga South West deep-offshore oil project, as part of broader efforts to stimulate job creation and increase foreign exchange inflows into Nigeria. The approval was announced in a statement on Thursday by the Special Adviser to the President on Media and Public Communication, Sunday Da…
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