Tinubu approves incentives to support Bonga South West deep-offshore

President Bola Tinubu has approved the gazetting of targeted, investment-linked incentives to support the proposed Bonga South West deep-offshore oil project by Shell and its partners.

This was stated in a release by his Special Adviser on Media and Public Communication, Sunday Dare, on Thursday.

Tinubu also mandated his Special Adviser on Energy, Mrs Olu Verheijen, to facilitate the gazetting of the incentives in line with Nigeria’s existing legal and fiscal frameworks.

According to him, the incentives are disciplined, targeted, and globally competitive, designed to attract new capital without undermining government revenues.

“These incentives are not blanket concessions. They are ring-fenced and investment-linked, focused on new capital and incremental production, strong local content delivery, and in-country value addition.

“My expectation is clear: Bonga South West must reach a Final Investment Decision within the first term of this administration,” he said.

Tinubu approves incentives to support Bonga South West deep-offshore