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President Tinubu Smiles As Shell and Partners Invest $5bn in Nigeria’s DeepWater

The Bonga North FID dispels the misconceptions about International Oil Companies leaving Nigeria

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President Bola Ahmed Tinubu welcomes Shell and its partners’ announcement today  of the Final Investment Decision (FID) on the Bonga North Deep Offshore Field.

Also, barring any last-minute changes, President Bola Tinubu will today preside over what is expected to be the final Federal Executive Council meeting for 2024, ahead of his budget presentation at the National Assembly on Tuesday. Bayo Onanuga, the Special Adviser to the President, (Information & Strategy), said this morning in a State House press release.

It reads: ” This landmark development, Nigeria’s first deepwater oil project in over a decade, underscores the transformative impact of the President’s policies and reforms in attracting investments in the oil and gas sector.

The Bonga North oilfield, located 130 kilometres offshore in Oil Mining Lease (OML) 118, represents an impressive estimated $5 billion investment and is expected to yield approximately 350 million barrels of crude oil.

Shell holds the largest operational interest, with 55%. Its other partners are the Nigerian National Petroleum Corporation (NNPC), ExxonMobil, TotalEnergies, and Eni.

The FID signals renewed confidence in Nigeria’s energy sector and demonstrates the effectiveness of the Tinubu administration’s strategic focus on engendering a robust and competitive investment climate.

President Tinubu remarked: “The Renewed Hope Agenda fundamentally focuses on attracting investments to transform the Nigerian economy and deliver prosperity to our people.

We designed our policies and reforms from the start of my administration to achieve this goal. Shell and its partners’ decision to invest in Bonga North affirms the success of our efforts. We will continue to offer the necessary support to ensure their success and the realisation of Nigeria’s energy potential.

“President Tinubu’s strategic engagement with global energy stakeholders has been instrumental in this renewed wave of investments.

In July 2023, at the first of several high-level meetings with Shell’s global leadership, President Tinubu declared, “We are open for business and serious about creating a stable, predictable, and investor-friendly environment.

” Presidential Directives issued in early 2024 reinforced this commitment by fast-tracking regulatory approvals, reducing operational costs, and introducing competitive fiscal incentives.

The Bonga North project is the second of the blueprint projects President Bola Ahmed Tinubu selected to drive the implementation of the transformative Presidential Directives 40, 41, and 42 issued in the first quarter of 2024.

These directives, aimed at enhancing regulatory clarity, accelerating project timelines, and incentivising investment in Nigeria’s energy sector, have yielded remarkable results.

Earlier this year, the Ubeta oilfield (OML 58), the first blueprint project under this initiative, achieved a Final Investment Decision (FID) through a partnership between TotalEnergies and NNPC Limited.

Dormant since its discovery in 1965, the Ubeta project will produce 350 million standard cubic feet of gas per day, bolstering domestic supply and expanding Nigeria’s presence in the global energy market.

With both blueprint projects now achieving FID, the success of these initiatives underscores the effectiveness of the President’s strategic vision for Nigeria’s energy future.

Ms Olu Arowolo Verheijen, Special Adviser to the President on Energy, commented on the Bonga North milestone:

“The Bonga North FID dispels the misconceptions about International Oil Companies leaving Nigeria.

Instead, we are witnessing a strategic pivot of IOCs-powered capital and technical capacity to deepwater and integrated gas projects, which align with President Tinubu’s vision of transforming Nigeria into a global energy hub.

The divestments from onshore operations create opportunities for local oil and gas companies to expand and thrive, building a strong foundation for Nigeria’s energy future.

” Ms Verheijen further noted:  “The success of Bonga North and Ubeta demonstrates the efficacy of the reforms and directives championed by the President.

These projects will trigger broader investments to revolutionise Nigeria’s power generation, transportation, and manufacturing sectors.

As we look ahead to 2025, we anticipate further FIDs from international and domestic players, marking a new era of growth and opportunity for Nigeria.

” The Tinubu administration remains steadfast in positioning Nigeria as a global leader in energy innovation and investment, ensuring that these efforts translate into tangible benefits for all Nigerians.

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Kogi Govt Commends Progress of ACReSAL Project

The Commissioner for Water Resources and Co-Chairman of the SSC, Engr. Farouk Danladi, expressed delight over the achievements recorded within a relatively short time, particularly in Kabba, Ankpa, and Okene

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The Kogi State Government has expressed satisfaction with the progress of the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project following a comprehensive 3-day inspection tour across various intervention sites in the state.

The inspection, led by the Commissioner for Environment and Ecological Management, Engr. Oluwasegun Joseph, who also chairs the State Steering Committee (SSC), covered project locations in Okene, Ankpa, and Kabba/Bunu Local Government Areas. The team included members of both the State Steering and Technical Committees.

Among the inspected sites were key interventions such as gully erosion control locations, water harvesting systems, Community Resilience Facilities (CRF), and agro-forestry zones.

The inspection team applauded the quality of work on ground, citing strict compliance with set standards and commendable pace of implementation.

Engr. Oluwasegun Joseph noted that the Governor Ododo ‘s administration remains committed to improving livelihoods and building climate resilience among communities in Kogi State.

The State Government is dedicated to improving the lives of our people, and this project is a testament to that commitment,” he stated.

Also, the Commissioner for Water Resources and Co-Chairman of the SSC, Engr. Farouk Danladi, expressed delight over the achievements recorded within a relatively short time, particularly in Kabba, Ankpa, and Okene.

He noted that the project’s progress has exceeded expectations, describing it as a model for integrated development.

Project Coordinator of Kogi ACReSAL, Barrister Ladi Ahmed Jatto, thanked Governor Ahmed Usman Ododo for his unwavering support, which she described as a driving force behind the project’s success so far.

She also appreciated the World Bank and national ACReSAL teams for their technical guidance and encouragement.

“The core objectives of ACReSAL are land restoration, livelihood enhancement, and boosting food security,” Jatto explained.

“These goals are being met progressively in Kogi State, thanks to strong institutional support.”

The inspection exercise highlights the State Government’s focus on rigorous monitoring and evaluation of projects, ensuring transparency, impact, and value delivery.

Project Coordinator of Kogi ACReSAL, Barrister Ladi Ahmed Jatto, thanked Governor Ahmed Usman Ododo for his unwavering support, which she described as a driving force behind the project’s success so far.

ACReSAL’s efforts are expected to significantly bolster Kogi’s climate adaptation capacity, improve agricultural productivity, and entrench sustainable land management practices.

As implementation continues, stakeholders express optimism that the project will catalyze long-term socio-economic and environmental benefits for communities across the state.

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Kogi Govt Trains 2,310 Youths in CNG Conversion to Boost Economy, Tackle Unemployment

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The Kogi State Government has commenced the training of 2,310 young people across the 21 Local Government Areas of the state in Compressed Natural Gas (CNG) conversion technology.

This ccomes in a major push to fulfill its campaign promise of youth empowerment and economic diversification.

The initiative, carried out in partnership with Sufpay Ltd, is designed to equip Kogi youths with cutting-edge skills that align with Nigeria’s national embrace of cleaner and more sustainable energy solutions.

Speaking in Lokoja, the Kogi State Commissioner for Information and Communications, Kingsley Femi Fanwo, described the programme as a bold and strategic move to position the state for the emerging energy revolution.

“This is about creating a new generation of skilled professionals who can compete and contribute meaningfully in the evolving energy sector. CNG is the future, and we are proud to be preparing our youths for it,” Fanwo said.

He emphasized that the initiative will not only strengthen the local economy but also serve as a non-kinetic strategy in addressing insecurity by productively engaging the youth population.

“Our Governor, His Excellency Alhaji Ahmed Usman Ododo, made a clear commitment to youth empowerment, and this programme is a clear demonstration of that commitment.

We are building development around our youth because they are the greatest asset of our state,” he added.

Fanwo also extended appreciation to Sufpay Ltd, noting that the company’s dedication and technical expertise have been instrumental in driving the vision forward.

The training initiative aligns with broader national efforts to transition to alternative fuel sources and reduce dependence on petrol, while simultaneously tackling unemployment through technical empowerment.

The training is also decentralized so that the youth can learn in their familiar environments. The training centers are Lokoja, Okene, Idah and Kabba.

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NJC retires 10 judges for lying about their age

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The National Judicial Council (NJC) has compulsorily retired 10 judges in Imo State for age falsification and other unethical practices.

In a statement issued on Thursday after its 109th meeting and presided over by the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, the Council said the affected judges—five from the High Court and four from the Customary Court of Appeal—altered their dates of birth in official records to illegally extend their tenure.

The affected High Court judges are Justices M.E. Nwagboso, B.C. Iheka, K.A. Leaweanya, Chinyere Ngozi Okereke, and Innocent Chidi Ibeawuchi.

Those from the Customary Court of Appeal include Justices Tennyson Nze, Uchenna Ofoha, Everyman Eleanya, and Rosemond Ibe.Also , Hon. Justice T.N. Nzeukwu was compulsorily retired for submitting himself for appointment as acting Chief Judge of Imo State, despite being fourth in seniority—a violation of Section 271(4) of the 1999 Constitution.

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