. As Senate receives president’s request to confirm key NADC, NUPRC, RMAF nominees
His Excellency, President Bola Ahmed Tinubu GCFR, has approved a targeted fiscal incentive designed to unlock the long-awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project, marking a milestone in Nigeria’s ongoing drive to attract strategic investments and accelerate sustainable economic growth. The project is estimated to attract about $20 billion in Foreign Direct Investment and position Nigeria for a new era of deepwater production.
The approval followed months of intensive technical and commercial negotiations involving NNPC Limited as the concessionaire, the Nigeria Revenue Service (NRS), the Special Adviser to the President on Energy, Olu Verheijen, and the Shell CEO Mr. Wael Sawan. It represents the culmination of the President’s directive, issued during a courtesy visit by Shell CEO, Mr. Wael Sawan, to fast-track the enablers required to move this strategic national asset to FID. It signals renewed confidence in Nigeria’s policy direction and its resolve to translate reform momentum into tangible investment outcomes.
Speaking on the development, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari stated:
“This approval is a testament to the President’s leadership, NNPC’s disciplined execution and our ability to structure complex, bankable transactions that deliver value for Nigeria. For nearly two decades, the Bonga Southwest project remained stalled. Today, under President Tinubu’s reform-driven leadership and through NNPC’s sustained advocacy, we have broken that logjam. This is what partnership, persistence, and policy clarity can achieve.”
Ojulari further stated, “This milestone further affirms NNPC’s commitment, under the President’s leadership, to unlocking Nigeria’s vast energy potential through partnerships, disciplined innovation and execution excellence”.
The Bonga Southwest project will be the first FID on a Nigeria deepwater Production Sharing Contract asset since 2008, re-establishing Nigeria as a premier deepwater investment destination. The fiscal package approved by President Tinubu includes an enhanced Production Tax Credit and resolution of the 2021 dispute settlement agreement, creating a competitive framework that balances national value with investor returns.
NNPC Limited, as concessionaire, worked closely with SNEPCo and the broader contractor party to develop alternative fiscal solutions that address structural constraints while protecting Nigeria’s long-term interests. The approval was granted rigorous evaluation by the National Revenue Service and submission of recommendations to the Presidency.
This milestone reinforces NNPC’s strategic pivot toward partnership-driven growth. By aligning with global majors like Shell and securing the enabling fiscal environment, NNPC Ltd is translating the President’s investment reform agenda into tangible outcomes—jobs, revenues, and energy security for Nigerians.
With Presidential approval secured, NNPC Limited and its partners will now progress toward FID, triggering the multi-billion-dollar capital commitment that will transform Nigeria’s deepwater landscape and deliver enduring value to the nation.
The Bonga Southwest Aparo project, operated by Shell with all IOCs in Nigeria as partners, will create over 5,000 direct and indirect jobs, and deliver 150,000 barrels per day of crude oil and 140 million standard cubic feet per day of gas upon completion.
.As Senate Receives Tinubu’s Requests to Confirm Key NADC, NUPRC, and RMAFC Nominees
Meanwhile, The Senate on Tuesday received multiple requests from President Bola Ahmed Tinubu seeking confirmation of nominees for key federal agencies and commissions.
In one of the requests, the President asked the Senate to confirm Mr. Mai Nasara Ilo as the Executive Secretary and Chief Executive Officer of the Nigerian Anti-Doping Center (NADC). The nomination, made under Section 15 of the Nigerian Anti-Doping Act, 2025, is for an initial term of four years. The request has been referred to the Senate Committees on Narcotics and Sports for joint screening and a subsequent report to the Senate.
On the nominations, President Tinubu said in his letter, “I write to request the confirmation of Mr. Mai Nasara Ilo as Executive Secretary and CEO of NADC. I urge the Senate to give this request expeditious consideration.”
The Red Chamber also received a separate request for confirmation of three nominees to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The nominees are Senator Magnus Abe as Chairman, Engineer Jeshi Paul Yaro as Non-Executive Commissioner, and Mr. Sonde Adebayo Babalola as Non-Executive Commissioner. The nominations were made pursuant to Section 11(3) of the Petroleum Industry Act (PIA), 2021, and have been referred to the Senate Committee on Petroleum Upstream, which is expected to report within one week.
In another communication, President Tinubu sought confirmation of Amina Gamawa and Abdullahi Mokta as Commissioners of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), representing Bauchi State and Kaduna State, respectively. The request, made under Section 154(1) of the 1999 Constitution (as amended), has been referred to the Senate Committee on National Planning and Economic Affairs for review.
On the RMAFC nominations, the President stated, “I respectfully request the Senate’s confirmation of these nominees, and I urge expeditious consideration so that they may commence their duties.”
The letters collectively emphasized the need for swift action, reflecting the administration’s push to fill strategic positions in key agencies.
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