After $5bn Bonga North, Shell to Take Bonga Southwest FID By 2027 Local content opportunities swell
Peter Uzoho in Yenagoa
After sanctioning a $5 billion Bonga
North deepwater project in Nigeria’s Niger Delta in December 2024, Shell yesterday, announced that it
TotalEnergies’ optimistic about Ntokon FID, rallies FG, agencies
would be proceeding with a Final Investment Decision (FID) on the Bonga Southwest project by 2027.
The General Manager, Contracting and Procurement at Shell Nigeria Exploration and Production Company
Limited (SNEPCo), Mr. Charles Oranyeli, disclosed this in Yenagoa, Bayelsa State during his presentation
at the ongoing Nigerian Oil and Gas Continued on page 9
Afreximbank Grew Assets to $42.7bn as Net Loans Hit $27.8bn in Q1... Page 8
Thursday 22 May, 2025 Vol 30. No 11001. Price: N400
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Zulum to Tinubu: To End Insecurity, Listen to Military, Not Sycophants
Says govt can end the scourge in six months with contractocracy out of the way Declares some soldiers sabotaging fight Senate asks military to halt fresh terrorists’ attacks in North-east
Emmanuel Addeh and Sunday Aborisade in Abuja
Borno State Governor, Professor Babagana Zulum, yesterday, urged President Bola Tinubu to source
security information from the military and other relevant quarters, and ignore “sycophants”.
Speaking during an interview on News Central TV, a Nigerian media company, Zulum decried
the bureaucratic bottlenecks currently bedevilling the procurement of military equipment, and urged
the federal government to cut off Continued on page 9
27.5% MPR: MAN, LCCI, NECA Lament Prohibitively Expensive Credit Say Nigeria now sixth most expensive credit market globally Finance costs surged by over 44% from N1.43trn in 2023 to N2.06trn in 2024
Dike Onwuamaeze The Manufacturers Association of Nigeria (MAN), the Lagos Chamber of Commerce and Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) yesterday lamented the continued decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to maintain the Monetary Policy Rate (MPR) at 27.5 per cent since November 2024, despite a global wave of interest rate reductions aimed at revitalising economic productivity and combating stagflation. Specifically, the LCCI stressed that the current MPR level was prohibitively high for private sector development. Likewise, NECA expressed concern over the CBN’s continued reliance on monetary policy tightening. The MPC at the end of its meeting on Tuesday decided to keep all its monetary policy tools unchanged. Continued on page 9
OPENING CEREMONY OF THE TARABA STATE INTERNATIONAL INVESTMENT SUMMIT...
L-R: President, Dangote Group, Alhaji Aliko Dangote; Vice President, Senator Kashim Shettima; and Governor of Taraba State, Dr. Agbu Kefas, at the opening ceremony of the Taraba State International Investment Summit 2025 in Jalingo, yesterday
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