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Bola Ahmed Tinubu has approved fiscal incentives aimed at unlocking the $20 billion Bonga Southwest Aparo Project, a major deepwater oil development expected to attract significant foreign investment into Nigeria’s energy sector. The project, operated by Shell Nigeria Exploration and Production Company in partnership with NNPC Limited, could produce 150,000 barrels of crude oil per day and generate over 5,000 jobs, marking Nigeria’s first Final Investment Decision on a deepwater PSC asset since 2008.
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