Business
Shell FID on Bonga North excites Tinubu in meeting Nigeria’s energy target
Shell FID on Bonga North excites Tinubu in meeting Nigeria’s energy target
President Bola Tinubu has applauded the $5 billion Final Investment Decision (FID) made by Shell and its partners on the Bonga North Deep Offshore Field.
The feat, according to the president, reflected the government’s commitment to creating a more competitive and investor-friendly environment.
The Bonga North oilfield, located 130 kilometers offshore in Oil Mining Lease (OML) 118, represents an estimated investment of $5 billion and is expected to yield approximately 350 million barrels of crude oil.
Shell holds the largest operational stake in the project, with 55 per cent, while other partners include the Nigerian National Petroleum Corporation (NNPC), ExxonMobil, TotalEnergies, and Eni.
President Tinubu emphasised that the FID signalled renewed confidence in Nigeria’s energy sector and underscored the effectiveness of the administration’s strategic focus on creating a robust and competitive investment climate.
“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.”
The President’s engagement with global energy stakeholders has been a key factor in this wave of renewed investments.
In July 2023, during a high-level meeting with Shell’s global leadership, President Tinubu declared: “We are open for business and serious about creating a stable, predictable, and investor-friendly environment.”
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Presidential Directives issued in early 2024 further reinforced this commitment, accelerating regulatory approvals, reducing operational costs, and introducing competitive fiscal incentives.
“The Bonga North project is the second major initiative under President Tinubu’s transformative Presidential Directives 40, 41, and 42, which were issued in the first quarter of 2024.
“These directives aim to improve regulatory clarity, shorten project timelines, and incentivise investment in Nigeria’s energy sector.”
Zoë Yujnovich, Shell UK’s Integrated Gas and Upstream Director said Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55 per cent interest.
He said Bonga North project involved drilling, completing and starting up 16 wells (eight production and eight water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.
“The project will sustain oil and gas production at the Bonga facility; Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.
“This is another significant investment which will help us to maintain stable liquids production from our advantaged upstream portfolio,” he said.
Yujnovich added that Bonga North would help to ensure Shell’s leading Integrated Gas and Upstream business continued to drive cash generation into the next decade.
Earlier this year, the Ubeta oilfield (OML 58), the first project under these initiatives, also achieved an FID through a partnership between TotalEnergies and NNPC Limited.
The Ubeta project, dormant since its discovery in 1965, is expected to produce 350 million standard cubic feet of gas per day, boosting domestic supply and enhancing Nigeria’s presence in the global energy market.
Ms. Olu Verheijen, Special Adviser to the President on Energy, highlighted the significance of the Bonga North FID, saying it dispelled misconceptions about International Oil Companies (IOCs) exiting Nigeria.
“Instead, we are witnessing a strategic pivot of IOCs-powered capital and technical capacity to deepwater and integrated gas projects.
“These projects align with President Tinubu’s vision of transforming Nigeria into a global energy hub,” she noted.
She added that the divestments from onshore operations opened opportunities for local oil and gas companies to expand, thus creating a solid foundation for Nigeria’s energy future.
“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 that will revolutionise Nigeria’s power generation, transportation, and manufacturing sectors.
“As we look ahead to 2025, we anticipate further FIDs from both international and domestic players, marking a new era of growth and opportunity for Nigeria.”
Shell FID on Bonga North excites Tinubu in meeting Nigeria’s energy target
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Railway
Warri-Itakpe Train Crash: Full Manifest Retrieved, FG, NRC Condole Families of Five Dead
Warri-Itakpe Train Crash: Full Manifest Retrieved, FG, NRC Condole Families of Five Dead
The Federal Ministry of Transportation and the Nigerian Railway Corporation (NRC) have said the full manifest of passengers and crew members aboard the ill-fated Warri–Itakpe train has been retrieved, even as they extended condolences to the families of the five persons who lost their lives in Monday’s accident near Agbor, Delta State.
In a joint update on the incident, the ministry and the NRC said efforts were ongoing to identify all injured passengers and deceased victims for proper documentation, while assuring that relevant authorities would have access to the complete onboard manifest.
The agencies confirmed that five persons — four adults and a baby — died when four coaches of the Warri–Itakpe Train Service (WITS) capsized and another derailed along the corridor. They added that 24 passengers sustained serious injuries, while several others suffered varying degrees of injuries and are receiving medical treatment.
According to the statement signed by the Permanent Secretary of the Federal Ministry of Transportation, Engr. Funsho Adebiyi, a total of 442 passengers had booked for the journey, while 40 crew members, security personnel and third-party service providers were on board, bringing the total number of persons on the train to 482.

The ministry said rescue and evacuation operations were immediately activated following the accident, with support from the Delta State Government, the National Emergency Management Agency (NEMA), the Federal Road Safety Corps (FRSC), the Police, Civil Defence, local authorities and other emergency responders.
The rescue efforts, which were completed by 6:30 p.m., also received assistance from the Senator representing Delta Central Senatorial District, Senator Ede Dafinone, and former Delta State Secretary to the State Government, Patrick Ukah.
The ministry and the NRC expressed their deepest sympathies to the families of the deceased and prayed for the speedy recovery of those injured in the accident.
They also commended the Delta State Government, emergency response agencies, security operatives, medical personnel, the NRC Mechanical Directorate and the corporation’s special rescue and emergency team for their swift intervention.
The statement added that a full investigation into the cause of the accident had commenced, assuring that authorities would continue to account for all passengers and provide necessary support to those affected by the tragedy.
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Aviation
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
The Federal Government has grounded a private aircraft and suspended its operator’s permit following a dramatic incident in which the aircraft made an emergency landing on a road under construction near Asaba and later departed without regulatory clearance.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the development in a statement posted on his X account, describing the incident as a serious breach of aviation regulations and security protocols.
According to Keyamo, the aircraft carried out a missed approach while attempting to land at Asaba Airport at about 7:43 a.m. local time on Wednesday, June 10, 2026, before diverting and landing on a concrete road under construction in the Ogwashi-Uku area of Delta State. He said eyewitness reports confirmed that all four crew members on board safely exited the aircraft and were later transported to Asaba by road, with no injuries recorded. A short video that surfaced online showed the aircraft stationary on the concrete road before taxiing along the road being reconstructed and taking off.
Keyamo expressed concern over the aircraft’s subsequent departure from the scene at about 11:02 GMT (12:02 p.m. local time) without obtaining the required regulatory approval. He said Air Traffic Control was only notified after the aircraft had already taken off, noting that the aircraft had no clearance for departure. “In other words, the aircraft had no clearance to take off again,” he said. The Nigerian Civil Aviation Authority (NCAA) , in a statement signed by its Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed that the action constituted a violation of the Nigeria Civil Aviation Regulations (Nig. CARs) and is currently under investigation.
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Following the incident, the NCAA immediately grounded the aircraft upon its arrival in Lagos, pending the outcome of investigations. The Authority also placed the flight crew under regulatory review while inquiries continue into both the initial occurrence and the unauthorised departure. As part of enforcement actions, the NCAA suspended the operator’s Permit for Non-Commercial Flight (PNCF) and ordered a comprehensive audit of its operational, maintenance, airworthiness, and flight records. “The NCAA will take further enforcement action in accordance with applicable aviation regulations,” Keyamo stated. The regulator has formally notified the Nigerian Safety Investigation Bureau (NSIB) of the occurrence and is coordinating with relevant aviation stakeholders, including the aircraft operator and the Nigerian Airspace Management Agency (NAMA) , to establish the full circumstances of the incident.
Keyamo confirmed that security agencies had taken custody of the crew members for questioning as part of ongoing investigations. “I have also spoken to relevant security agencies and I have been assured that the crew are in their custody and they are assisting them with their investigation,” the minister said.
Authorities say the incident will be thoroughly reviewed to prevent future breaches of aviation safety and regulatory procedures. The NCAA reiterated its commitment to maintaining the highest standards of aviation safety, security, and regulatory compliance within the Nigerian aviation sector. “No individual or operator, irrespective of status, will be permitted to circumvent established aviation procedures designed to safeguard lives and maintain the integrity of Nigeria’s airspace system,” the ministry stated.
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
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Business
Seplat Picks Elumelu as Chairman, Names Okon New CEO
Seplat Picks Elumelu as Chairman, Names Okon New CEO
Seplat Energy Plc has announced a major leadership transition that will see businessman and investor Tony Elumelu become chairman of the company from January 1, 2027, while industry veteran Effiong Okon takes over as chief executive officer from August 1, 2026.
The appointments are part of a succession plan approved by the board to ensure continuity and support the company’s next phase of growth.
Current Chairman, Senator Udo Udoma, will retire on December 31, 2026, while Chief Executive Officer Roger Brown will step down on July 31, 2026 after more than a decade with the company.
Confirming Elumelu’s appointment, Seplat said he was elected by the board to succeed Udoma. Elumelu, Founder and Chairman of Heirs Holdings, joined Seplat’s board in January 2026. Heirs Holdings holds a 20.07 per cent stake in the energy company.
Reacting to his appointment, Elumelu said he was honoured by the confidence reposed in him by the board.
“I am honoured to succeed Senator Udoma as chairman in January 2027 and to lead the board through Seplat Energy’s next phase of growth,” he said.
Elumelu stressed the importance of indigenous energy companies in driving economic development across the continent, noting that “the critical role indigenous resources play in the economic transformation of Nigeria and Africa” remains central to his vision for the company.
He also commended the outgoing chairman and chief executive for their stewardship, saying he looked forward to working with the incoming CEO to deliver greater value to shareholders.
The board also appointed Okon as CEO and Executive Director. Okon, who has more than 35 years of industry experience, has held several leadership positions within Seplat since joining the company in 2018. Most recently, he served as Managing Director of the ANOH Gas Processing Company, where he led the project to first gas production in January 2026.
Expressing his readiness for the role, Okon said: “My immediate focus will be on ensuring the company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”
Seplat said Brown leaves behind a strong legacy, having helped steer the company through significant expansion, including its dual listing in 2014 and major acquisitions such as Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024.
Brown described his time at the company as a privilege, saying he was proud to have helped build a business known for financial resilience, strong governance and shareholder value.
Udoma, meanwhile, praised Brown for his outstanding contribution to the growth of Seplat into one of Africa’s leading independent energy companies.
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