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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Auto
Jetour Set to Storm Abuja Show with Rugged Luxury T2
Jetour Set to Storm Abuja Show with Rugged Luxury T2
Abuja is set for a taste of rugged luxury as Jetour Nigeria puts its adventure-ready T2 SUV in the spotlight at the Jetour Experience Abuja from September 22 to 24, 2026, giving motorists in the Federal Capital Territory and neighbouring states an opportunity to test its blend of off-road capability, premium comfort and advanced technology.
The three-day showcase at Maha Event Centre, Area 8, Garki, will feature test drives, live demonstrations and direct interaction with Jetour product specialists, offering prospective buyers a closer look at the T2 and other models in the automaker’s growing Nigerian line-up.
Positioned as a premium SUV combining off-road capability with comfort and advanced technology, the Jetour T2 is designed for motorists seeking a vehicle capable of handling both city driving and challenging terrain.
Jetour Nigeria is distributing the T2 and other models via its seven accredited dealers — Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Germaine Auto Centre, Kojo Motors, Mandilas Autos, R.T. Briscoe Motors and Tab Autos Limited.
The T 2 SUV is powered by a 2.0-litre turbocharged engine producing 254 horsepower and 390 Nm of torque. The engine is paired with a seven-speed dual-clutch transmission and BorgWarner sixth-generation intelligent four-wheel-drive system.
It also features five driving modes — Eco, Sport, Mud, Rock and X Smart — designed to provide improved adaptability across different road and terrain conditions.
Measuring 4,758mm in length, 2,006mm in width and 1,880mm in height, the SUV offers 220mm ground clearance and a 70-litre fuel tank, giving it the capability for extended journeys and off-road adventures.
Inside the cabin, the T2 combines rugged styling with modern comfort, featuring ergonomic seating and a 15.6-inch touchscreen infotainment system with Apple CarPlay, Android Auto and intelligent voice control.
Its safety and driver-assistance features include a 360-degree panoramic camera, rear parking sensors, Lane Departure Warning, Blind Spot Detection, Anti-lock Braking System and Emergency Brake Assist.
The SUV also comes with off-road crawl control as well as push-button and remote-start functions.
The Abuja experience follows Jetour Nigeria’s recent showcase in Lagos as the automaker continues to expand its presence and customer reach across the country.
With its combination of performance, technology, safety and luxury, the Jetour T2 is expected to attract motorists seeking an SUV capable of combining everyday urban mobility with adventure and off-road driving.
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Business
NCAA Moves Against Airlines Over Rising Flight Delays
NCAA Moves Against Airlines Over Rising Flight Delays
Thousands of Nigerian air passengers faced delays in August as domestic airlines struggled to keep to their scheduled flight times.
Now, the Nigerian Civil Aviation Authority (NCAA) says it is taking regulatory steps that could lead to sanctions against airlines responsible for persistent delays.
The regulator’s August data showed that 4,765 of 7,961 scheduled domestic flights were delayed. In other words, nearly 60 per cent of the flights did not leave as scheduled.
Air Peace and United Nigeria Airlines recorded some of the highest delay rates, with 71 per cent and 76 per cent of their flights respectively affected.
NCAA Warns Airlines
NCAA Director of Public Affairs and Consumer Protection, Michael Achimugu, said that the regulator had already engaged some of the airlines involved.
According to him, the NCAA met with Air Peace, United Nigeria Airlines and Max Air and issued stern warnings over their operations.
The authority is now weighing further regulatory measures as the problem continues to affect passengers.
Achimugu also urged travellers to consider other airlines when repeated delays make a particular carrier unreliable.
“When one airline is continuously misbehaving, buy tickets on another airline and make your flight” he said.
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Passenger Rights Put Enforcement Under Spotlight
However, aviation consultant Capt. John Ojikutu believes the recurring problem exposes a wider weakness in the sector.
Ojikutu said Nigeria has regulations intended to protect air travellers, but questioned how consistently those rules are enforced.
“The regulation is there to protect the customer. What is the enforcement?” he said.
He noted that passengers can report violations to the appropriate authorities. But, in his view, regulators must follow up on those complaints with meaningful action.
The aviation expert also recalled experiencing severe delays himself.
He said he once travelled to Abuja and passengers had to board an aircraft three times before another plane was brought in to complete the journey.
The disruption, he said, left him returning to Lagos considerably later than expected.
Are Airlines Planning Their Routes Properly?
Ojikutu also linked the industry’s problems to the way some airlines plan their operations.
He questioned the number of carriers competing on the Lagos-Abuja route, particularly when several airlines operate multiple flights each day.
His argument is that airlines should first establish the level of passenger demand before selecting routes, aircraft sizes and flight frequencies.
According to him, deploying aircraft capable of carrying more than 100 passengers without sufficient demand can put additional financial pressure on an airline.
He therefore advised carriers to consider routes with enough passengers but less competition.
Smaller Aircraft Could Serve Regional Routes
Ojikutu said the industry could also learn from the operational model used by the former Nigerian Airways.
He recalled that the airline used larger aircraft on major routes while smaller planes connected regional destinations to major airports.
He suggested that modern carriers could adopt a similar approach by connecting cities such as Sokoto, Kaduna, Jos and Minna to larger aviation hubs.
Rather than having every airline compete directly on major routes, he said carriers could develop regional networks that feed passengers into bigger airports.
He also called for more airlines to establish bases outside Lagos.
According to him, encouraging operations in other parts of the country could reduce the heavy concentration of airlines in Lagos and create stronger regional connections.
Concern Over Airline Survival
Ojikutu further questioned the short lifespan of many Nigerian airlines.
He attributed part of the problem to weak business planning and argued that airlines should present credible, sustainable plans before receiving regulatory approval to operate.
The latest development therefore puts both airlines and the aviation regulator under scrutiny, as passengers continue to deal with delays despite existing rules designed to protect them.
NCAA Moves Against Airlines Over Rising Flight Delays
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Business
Fuel Prices Climb to ₦1,500 per Litre Across Nigeria, Sparking Calls for Urgent Action
Fuel Prices Climb to ₦1,500 per Litre Across Nigeria, Sparking Calls for Urgent Action
Workers’ unions and fuel sellers appeal to the government to protect families from soaring transportation and food costs.
Fuel stations across Nigeria have raised the price of petrol to as high as ₦1,500 per litre, creating fresh financial strain for working people, small business operators, and families. Across cities such as Kano, Maiduguri, Damaturu, and Sokoto, drivers and commercial riders now pay higher rates at the pump, while stations in central and southern communities also report steady increases.
Because transportation costs directly influence the price of everyday essentials, bus drivers and tricycle operators have raised passenger fares to cover their fuel bills. As a result, parents and commuters face steeper daily travel expenses and rising grocery bills.
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To address this pressure, the Nigeria Labour Congress urged federal authorities to step in quickly with practical relief measures. These proposals include providing cost-of-living allowances to workers, ensuring local refineries can purchase crude oil directly in local currency, and using surplus oil earnings to keep pump prices affordable.
At the same time, fuel sellers warned that pump prices could rise even further if international oil markets remain volatile. Retail associations noted that recent wholesale adjustments from local refineries have increased costs for station owners, who must pay more to restock their tanks.
To keep fuel affordable for the general public, union leaders and station operators are encouraging the government to reduce shipping and regulatory fees, helping ensure that reliable energy remains accessible to every community across the country.
Fuel Prices Climb to ₦1,500 per Litre Across Nigeria, Sparking Calls for Urgent Action
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