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Tinubu Approves Incentives for $20 Billion Bonga Southwest Aparo Oil Project
President Bola Tinubu approved fiscal incentives, including enhanced production tax credits and a resolved 2021 dispute, to advance the Final Investment Decision on the Bonga Southwest Aparo project. Operated by Shell with partners NNPC, ExxonMobil, TotalEnergies, and Eni, the project off Nigeria's Niger Delta could attract $20 billion in investment, produce 150,000 barrels of oil daily at peak, and create over 5,000 jobs. NNPC calls it a breakthrough after years of fiscal challenges, though the final decision rests with the operators, with FID possibly in 2027.
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