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Nigeria: Tinubu Approves Incentives to Unlock $20bn Bonga Deepwater Project
President Tinubu's approval aims to attract $20 billion investment to unlock the long-delayed Bonga Southwest Aparo deepwater project, creating over 5,000 jobs, officials said.
- On Tuesday, President Bola Tinubu approved targeted fiscal incentives to unlock the long-delayed Bonga Southwest Aparo deepwater project, expected to attract about $20 billion in investment.
- Stalled for nearly two decades, the project advanced after NNPC Ltd and partners resolved 2021 dispute settlement agreements, creating a competitive framework for long-term energy investments.
- Located 1,000 meters deep, the facility will deliver 150,000 barrels of crude oil and 140 million standard cubic feet of gas daily upon completion, creating over 5,000 jobs.
- NNPC Ltd Group Chief Executive Officer Bashir Ojulari noted that "partnership, persistence, and policy clarity" broke the long-standing development logjam, affirming Nigeria's commitment to unlocking energy potential.
- Shell CEO Wael Sawan previously outlined a renewed investment push in Nigeria, though environmentalists raise concerns about potential degradation in the Niger Delta following exploration resumption.
12 Articles
12 Articles
Tinubu approves incentives to unlock $20bn Bonga deepwater project
The federal government says the fiscal incentives will unlock the long-delayed Bonga Southwest Aparo deepwater project, expected to attract about $20 billion in investment. The post Tinubu approves incentives to unlock $20bn Bonga deepwater project appeared first on Premium Times Nigeria.
dailyfocus.com.ng
Optimum TimesNNPC Secures Presidential Approval For $20 Billion Final Investment Decision On Bonga Deepwater Project
President Bola Ahmed Tinubu 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 pr…
NNPCL, Shell secure presidential approval for $20b FID on Bonga Deepwater project
WorldStage– NNPC Limited, Nigeria’s state-owned oil company and Africa’s largest national oil company, with $153 billion in assets has confirmed President Bola Tinubu’s approval of a targeted fiscal incentive designed to unlock the long-awaited $20 billion Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project. ,NNPC Limited, as concessionaire is working closely with Shell Plc’s Nigeria’s subsidiary, SNEPCo and th…
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