AFREECANIMAGE

The Federal Government has reportedly approved an enhanced production-linked tax incentive for Shell Plc aimed at accelerating investment in the Bonga Southwest Aparo deepwater oil project , valued at approximately $20 billion . Under the arrangement, Shell and its partners will receive a tax credit of $11.50 for every barrel of crude oil produced , more than double the standard production incentive currently available to operators. The incentive is designed to encourage a Final Investment Decision (FID) on one of Nigeria's largest undeveloped offshore projects. Government sources indicate that similar incentives may be extended to other international oil companies as Nigeria seeks to attract fresh investment into its upstream petroleum sector. The Bonga Southwest Aparo project is expected to increase Nigeria's offshore production capacity, create thousands of direct and indirect jobs, stimulate local content participation and generate substantial government revenue over its...

Nigeria has recorded its highest crude oil production in more than six years, producing an average of 1.56 million barrels of crude oil per day in June 2026 , exceeding its Organisation of Petroleum Exporting Countries (OPEC) production quota of 1.5 million barrels per day by about 4 percent. According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), total oil production, including condensates, averaged 1.735 million barrels per day , marking the country's fourth consecutive month of production growth. The increase was attributed to improved pipeline security, stable production across oil assets and fewer disruptions caused by pipeline vandalism and oil theft. Industry analysts say the improved output strengthens Nigeria's position within OPEC and could significantly boost government revenue if sustained. Crude oil production reached 1.56 million barrels per day . Nigeria exceeded its OPEC quota for the fourth consecutive month. Total...

The Federal Government has suspended its proposed increase in registration fees for the 2027 West African Senior School Certificate Examination (WASSCE) and the National Examinations Council (NECO) Senior School Certificate Examination following widespread criticism from parents, students, education stakeholders and civil society groups. The Ministry of Education confirmed that it has withdrawn its June 18, 2026 circular proposing the new fee structure to allow for broader consultations before any final decision is made. The government stressed that no increase will take effect until discussions with stakeholders are concluded. Officials explained that the proposed review was prompted by rising operational costs, including examination logistics, security, printing, technology deployment and quality assurance. However, following public concerns over the affordability of education amid Nigeria's economic challenges, the government opted to suspend the policy. Proposed 2027 WAE...

ABUJA, NIGERIA — President Bola Ahmed Tinubu convened a high-profile, closed-door strategy meeting with Nigeria's defense heads at the Presidential Villa to evaluate and realign active security operations across the nation. The strategic session was led by the Minister of Defense, Abubakar Badaru, alongside the National Security Adviser, Nuhu Ribadu, and other prominent service chiefs. Over the course of the one hour and forty minute briefing, heads of various defense and intelligence units presented localized reports detailing tactical measures currently deployed to neutralize criminal elements and insurgents nationwide. According to State House sources, the security leadership reported measurable progress across several conflict corridors. The delegation affirmed a renewed commitment to leverage advanced intelligence networks as the primary driver of future military engagements. Furthermore, the security chiefs resolved to tighten regional border security through direct military...

                Abuja, Nigeria – The controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC) took a fresh turn on the eve of the scheduled court arraignment of its embattled Director-General, Adeniyi Adeyemi , who insists he is not evading law enforcement authorities but has withdrawn from public view because of alleged threats to his life. Adeyemi, who faces an eight-count criminal charge before the Federal High Court in Abuja, maintained that he remains willing to appear before the court but fears for his personal safety. He also renewed his call on President Bola Ahmed Tinubu to establish an independent investigative panel to examine the circumstances surrounding the controversial agency, its alleged budget allocation and his appointment.                          Adeyemi Denies Going into Hiding Speaking during a televised interview and...

  President Bola Tinubu has expressed profound joy at the successful rescue of the children and teachers from Oriire community in Ogbomoso, Oyo State, by the security forces.  President Tinubu praised the heroic efforts of the security agencies, especially the military, the DSS and the police, for working round the clock in the last 56 days to secure the release of the abducted children and their teachers without any collateral damage and for arresting eight of the abductors and neutralising others. President Tinubu regretted the anguish that the children and their teachers, as well as members of their families and the entire nation, have experienced since the sad occurrence. For cooperating with the Federal Government in all rescue efforts, President Tinubu commended the Oyo State Government and charged it to ensure adequate security around schools across the state.  "I am profoundly happy that our security forces successfully rescued the abducted pupils and teachers fro...