Tinubu Approves Incentives for Shell’s Bonga South-West Oil Project

Published

3 months ago

January 22, 2026

thecloudngr

Tinubu Approves Incentives for Shell’s Bonga South-West Oil Project—-President Bola Tinubu has approved the gazetting of targeted, investment-linked incentives to support Shell’s proposed Bonga South-West deep-offshore oil project.

He directed his Special Adviser on Energy, Mrs Olu Verheijen, to facilitate the gazette in line with existing legal and fiscal frameworks.

This is contained in a statement issued by Mr Sunday Dare, Special Adviser to the President on Media and Public Communication, on Thursday in Abuja.

Receiving a Shell delegation led by Global Chief Executive Officer, Mr Wael Sawan, Tinubu said the incentives were disciplined, targeted and globally competitive.

He said the measures were designed to attract fresh capital without undermining government revenues.

The President said: “These incentives are not blanket concessions.

“They are ring-fenced and investment-linked, focused on new capital, incremental production, strong local content delivery and in-country value addition.

“My expectation is clear: Bonga South-West must reach a Final Investment Decision within the first term of this administration.”

He described the project as strategic to Nigeria’s economy, with potential to create thousands of direct and indirect jobs.

He said it would generate significant foreign-exchange inflows and deliver sustained government revenues throughout the project’s lifespan.

Tinubu added that the project would deepen Nigerian participation in offshore engineering, fabrication, logistics and energy services.

He reaffirmed his administration’s commitment to policy stability, regulatory certainty and speedy execution to restore investor confidence.

The President noted that Shell and its partners invested nearly seven billion dollars in Nigeria within the past 13 months.

He said investments in Bonga North and HI showed that Nigeria’s economic and energy-sector reforms were yielding positive results.

Sawan said Nigeria’s investment climate had improved remarkably under Tinubu, adding that Shell was increasingly confident in long-term investment prospects.

Members of the delegation included senior executives from Shell’s global and Nigerian leadership teams. (NAN)

thecloudngr

0Shares

Up Next

Court Jails UBA Head of Operations for 40 Years Over Theft Conviction

Don't Miss

Shell Unveils $20bn Investment Plan for Bonga South West Oil Project

1 Comment

Sports

BREAKING: Saka Fires Arsenal Into First Champions League Final in 20 Years

Published

21 hours ago

May 5, 2026

thecloudngr

BREAKING: Saka Fires Arsenal Into First Champions League Final in 20 Years—-TCN reports that Arsenal have qualified for the 2026 UEFA Champions League final after a narrow victory over Atlético Madrid, with Bukayo Saka scoring the decisive goal.

Saka’s strike proved to be the difference as Arsenal secured a 1-0 win in the second leg, progressing 2-1 on aggregate following a 1-1 draw in Spain.

The result sees the North London club reach the Champions League final for the first time in two decades, marking a significant milestone in their European journey.

Arsenal will now face either defending champions Paris Saint-Germain or German giants Bayern Munich in the final scheduled for May 30.

This will be only the second Champions League final appearance in Arsenal’s history. Their first came in 2006, when they were narrowly defeated by FC Barcelona.

The Gunners will now be aiming to go one step further and claim their first-ever Champions League title.

Developing story…

thecloudngr

0Shares

Entertainment

BREAKING: From Words to Ring: Lizzy Anjorin Accepts Iyabo Ojo Boxing Challenge

Published

2 days ago

May 4, 2026

thecloudngr

BREAKING: From Words to Ring: Lizzy Anjorin Accepts Iyabo Ojo Boxing Challenge—–Nollywood stars Iyabo Ojo and Lizzy anjorin set for potential showdown as rivalry takes new turn

Actress Lizzy Anjorin has accepted the boxing ring challenge issued by her colleague Iyabo Ojo, adding a new turn to their long running public dispute.

The development began after Iyabo Ojo shared a video of herself training and challenged Lizzy Anjorin to a boxing match. She also called on businessman Emeka Okonkwo, known as E-Money and music executive Soso Soberekon to sponsor the proposed fight.

Lizzy Anjorin responded by accepting the challenge and criticised Iyabo Ojo in her post, questioning public support and describing her as a certified failed actress with zero achievements.

She also asked Iyabo to set a date for the fight and insisted she was ready.

“ABEG MK WE START BETTING NOW
TEAM LAWAL OR TEAM SISI MAMA ???

“PAULO SIS MAMA AMBASSADOR BABY OIL I CHALLENGE YOU AND IYABO OJO SEPETERI THE CERTIFIED FAILED ACTRESS WITH ZERO ACHIEVEMENTS TO PICK A DATE FOR THE FIGHT
NA THAT RING FIGHT FIT GIVE ME THE REAL JUSTICE WEY I DEY LOOK FOR
NA WHY I NO DRAG U GO COURT THAT TIME
BUT I’M READY ANYWAY NOW
DOCTOR KAN
AMBULANCE KAN
POSI MEJI,” she said.

In another post, Lizzy Anjorin also reacted to Iyabo Ojo’s partner Paulo Okoye, over his suggestion that their disagreement should be settled in a boxing ring. She challenged him to a 10 round fight with her husband before any match involving her and Iyabo Ojo.

The latest exchange adds to a long running dispute between both actresses, which has played out publicly on social media over the years, with repeated back and forth comments and accusations.

At different points in the conflict, Iyabo Ojo had shared a video mocking Lizzy Anjorin, which escalated tensions between both sides. Lizzy later made allegations against Iyabo, leading to further public exchanges and legal threats.

Iyabo Ojo had demanded a public apology and threatened legal action over alleged defamatory statements, including a compensation claim.

In 2024, a Lagos court dismissed a 1 billion naira defamation suit filed by Iyabo Ojo against Lizzy Anjorin, marking a legal setback in one of their cases. The public disagreement between both actresses has however continued to resurface through online exchanges.

thecloudngr