NEWS
Tinubu Attracts $5.3bn Investment in Upstream Through Reforms
It appears that Nigeria has reclaimed her position as the primary destination for energy capital in Sub-Saharan Africa.
The Special Adviser to the President on Energy, Olu Verheijen, made the assertion in an update shared on Thursday via X, with the claim that Nigeria got 38 percent of all major project sanctions on the continent over the last two years.
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This in concrete terms amounted to $5.3bn in upstream capital investment in 2025.
She noted that the upswing was despite an 18 percent overall decline in upstream spending across the Sub-Saharan region, which indicated a decoupled growth trajectory for Nigeria’s energy sector.
The presidential aide wrote, “The report highlights a dramatic “turnaround” in investor confidence. Between 2015 and 2023, Nigeria managed to secure only 4% ($5bn) of sanctioned African Final Investment Decisions (FIDs), accounting for just 6 out of 44 projects. Under recent reforms, that figure has leaped to 5 out of 8 projects across the continent.
“Nigeria has been able to prove that this approach works. We moved from gridlock to greenlight, and investors responded.”
Central to this success, Verheijen added, is the Shell–Sunlink HI Field (OML 144), a shallow-water non-associated gas project that reached FID in 2025.
“This project was made commercially viable by the Non-Associated Gas (NAG) incentives introduced in 2024, providing critical feedstock for the Nigeria LNG (NLNG) project.
“Our task was to design a system that eliminates rent-seeking while preserving the true meaning of local content—empowering Nigerian talent and enabling indigenous enterprise,” she added.
This sharp recovery is best illustrated by comparing the current momentum to the previous decade.
“Between 2015 and 2023, Nigeria struggled to remain competitive, capturing only 4% of sanctioned African FIDs with just six projects totaling $5 billion in nearly nine years. However, in just the last two years (2024–2025), the country has successfully secured 38% of the continent’s major projects, attracting a massive $8 billion in capital through five high-impact project sanctions.
“The administration’s “Data-Driven” benchmarking has propelled Nigeria into the top quartile of global jurisdictions for investment competitiveness. With the Bonga North and Ubeta gas developments also advancing, the presidency expects this momentum to carry into 2026.
“As Nigeria enters a new cycle of upstream investment, we must strengthen local content as a catalyst for smooth and timely project delivery. Regulators must shed legacy mindsets and act as enablers of speed, clarity, and efficiency,” Verheijen concluded.
NEWS
‘Celebrate This Poor Man’ – Shettima Defends Tinubu Over Economic Crisis
Vice President Kashim Shettima has urged Nigerians to celebrate President Bola Tinubu, saying his leadership saved the country from a potential implosion.
Shettima said Nigeria’s economy had been teetering on the edge of collapse before Tinubu’s intervention, adding that the country could have faced a different situation.
“The economy was teetering on the edge of collapse, we were on a cliff edge,” the Vice President said.
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“So he literally saved the nation from an implosion. That could have been the scenario. So, instead of demonizing him, Nigerians ought to celebrate this poor man.”
Shettima also called for a return to the drawing board, expressing confidence in the leadership’s commitment and the prospects for the 2027 elections.
“I believe on the bottom of my heart that with this presentation I have seen, and with the commitment of our leadership, by the grace of God, we are going to win,” he said.
Speaking about the 2027 elections, the Vice President reminded his audience that social media platforms should not be mistaken for actual polling stations.
“There are no polling stations on Facebook or Instagram,” he said.
Shettima also expressed gratitude for the efforts made towards promoting the cause of the 2027 elections.
NEWS
FG Withdraws Charges Against ‘Fake Agency’ DG, Adeniyi Adeyemi
Following observed mis-steps, the Federal Government of Nigeria has withdrawn the eight-count criminal charge brought against the alleged fake Director General (DG) of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Adeyemi.
Biztellers reports that the matter, in accordance with the counsel of the Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Olasunkanmi Fagbemi, (SAN), the matter will be filed at the High Court of the Federal Capital Territory (FCT), instead of the Federal High Court (FHC).
Consequently, upon an unopposed application for termination by the prosecution counsel and Director of the Public Prosecution of the Federation (DPPF), Rotimi Oyedepo (SAN), on Monday, Justice Mohammed Umar of a Federal High Court, Abuja on Monday, struck out the matter.
READ ALSO: Shell Identifies Keys to Nigeria’s Energy Future
In a motion for the termination of the charges, Oyedepo informed the court that the Attorney General of the Federation (AGF) and Minister of Justice has carried out a review of the case file of Adeyemi and the charge filed by the Inspector General of Police (IGP) and found some loopholes.
The DPPF added that the documents allegedly forged by Adeyemi during his operations of the fake agency are those that can be prosecuted by the High Court of the Federal Capital Territory (FCT).
He also informed the court that a new charge has been filed at the High Court of the FCT and that Adeyemi would be expeditiously arraigned afresh.
He therefore urged the judge to strike out the charge as required by law.
Following no objections from Ibrahim Angulu (SAN), who stood in for Adeyemi, Justice Umar subsequently terminated the charge.
Adeniyi, 38, was being tried alongside two others whose whereabouts are unknown, on charges bordering on conspiracy and forgery.
The two others said to be at large were identified as Femi (surname unknown) and Anu (surname unknown).
The charge marked: FHC/ABJ/CR/25/2025, was entered against the defendant by the DPPF.
NEWS
Shell Identifies Keys to Nigeria’s Energy Future
To secure a bright energy for her teeming population, Nigeria must sustain the momentum of reform, accelerate investment, and deepen partnerships.
This view was expressed by Managing Director, Shell Nigeria Exploration and Production Company of Nigeria Limited (SNEPCo) Ronald Adams in Lagos at the weekend.
Delivering a keynote address at the Africa Energy Conference (AEC) of the Lagos Business School (LBS), Adams called for regulatory certainty through efficient execution of reforms, sustained investment appeal to enable projects to move more swiftly from opportunity to production and partnership by operators, regulators, NNPC Limited and communities to unlock the full value of Nigeria’s resources.
Adams cited Nigeria’s huge oil and gas resources as an advantage but pointed out: “Resources alone do not guarantee prosperity. Prosperity comes when resources are matched with investment, technology, sound policy and disciplined execution. Success will be determined not by the size of our resources, but by our ability to convert them into investment and economic growth.”
Adams pledged the support of Shell towards a bright energy future of Nigerians. He said: “For more than six decades, Shell has been part of Nigeria’s energy journey. Together with our partners, we have helped develop major energy infrastructure, supported Nigerian businesses, invested in talent, and contributed to economic development. Bonga remains a powerful example of what technology, partnership and Nigerian capability can achieve in deepwater operations. Today, that story continues through Bonga North.”
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Issuing a clarion call for action by all stakeholders, he added: “The world is not standing still. Capital is moving, technology is advancing and competition is intensifying. The countries that attract investment tomorrow are those that improve competitiveness today. Nigeria has begun that journey. Our task is to sustain the momentum and translate reform into projects, projects into growth, and growth into shared prosperity.”
The conference, the 4th in the series had at its theme; “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilisation, and Pathways to a Sustainable Power and Energy Market” and was attended by top government officials, industry captains, energy professionals, and students.
Lagos State Deputy Governor Obafemi Hamzat represented Lagos State Governor Babajide Sanwo-Olu as the guest of honour. SNEPCo was a principal sponsor of the Africa Energy Conference (AEC) and mounted a well-received exhibition on its deepwater operations and social investments across Nigeria.





