CBN Directs Banks to Submit Capital Plans, Gives 10 Days Deadline Nume Ekeghe As part of its broader strategy to
stabilise the financial system and phase out pandemic-era reliefs, the Central Bank of Nigeria (CBN)
has directed all banks to submit a detailed Capital Restoration Plan within 10 working days after the
close of each quarter, beginning with June 30, 2025. Each bank’s capital restoration
plan must spell out how it intends to return to full regulatory compliance, the CBN said, stressing that it
wants to see cost-cutting plans, asset Continued on page 11
Tinubu Urges BRICS to Rethink Global Governance Structure, Finance, Health ... Page 10 Tuesday 8 July, 2025 Vol 30. No 11048. Price: N400
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Shell, TotalEnergies Expect First Oil, Gas Production from $5bn Bonga North, $550m Ubeta Fields by 2027 $8bn Bonga Southwest-Aparo field nears FID as IMA project takes off 2026 Operators accelerate ongoing projects to meet Nigeria’s 3m bpd, 12bcf/d target
Peter Uzoho
Multinational oil companies - Shell and TotalEnergies have announced that first oil and gas output from
the $5 billion Bonga North field and the $550 million Ubeta gas field are expected to happen by 2027, barring any unforeseen circumstances. The two oil majors are also
aggressively progressing towards bringing more projects to development phase, with Shell Nigeria Exploration and Production Company Limited (SNEPCo) saying that its
Bonga Southwest-Aparo field was exceptionally closed to FID while HI gas field was also progressing towards approval for takeoff. On the other hand, TotalEnergies
EP Nigeria Limited anticipates signing the FID on IMA project in 2026, while its recently discovered field, Ntokon is also in discussion for commencement of execution in the coming years.
However, the operators are accelerating the execution schedule of their ongoing projects to get Continued on page 11
Keyamo Inaugurates Enugu Air, Says Mbah Undoubtedly One of the Best Govs Story on page 11
Airline operates inaugural flights to Enugu, Abuja Mbah: It’s triumph of vision, beginning of aviation hub
ENUGU AIR COMMENCES OPERATION...
L-R: Secretary to State Government, Enugu State, Prof. Chidiebere Onyia; Commissioner for Transportation, Dr. Obi Ozor; Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN; Catholic Bishop of Enugu Diocese, Rt. Rev. Claitus Onaga; Governor of Enugu State, Dr. Peter Mbah; Deputy Governor of Enugu State, Barr. Ifeanyi Ossai; and Speaker of the Enugu State House of Assembly, Hon. Uchenna Ugwu, during the inauguration of three aircraft to mark the commencement of operations by Enugu Air, a newly established state-owned commercial airline ... yesterday