1. NNPC, Shell and Partners Sign Agreements to Advance $21bn Bonga Southwest Project
The Nigerian National Petroleum Company Limited and its OML 118 partners have signed agreements expected to move the long-delayed Bonga Southwest/Aparo deepwater project closer to a final investment decision. The project is projected to attract between $15 billion and $21 billion in investment and reach peak production of about 175,000 barrels of oil per day and 140 million standard cubic feet of gas per day.
Project Moves Towards Final Investment Decision
The agreements were signed in Abuja on Monday by NNPC, Shell Nigeria Exploration and Production Company, Esso Exploration and Production Nigeria (Deepwater) and Nigerian Agip Exploration.
The development followed President Bola Tinubu’s approval of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026, aimed at improving Nigeria’s deepwater investment environment.
NNPC Group Chief Executive Officer Bashir Bayo Ojulari said the signing showed that recent reforms were beginning to translate into actual investment. The partners also confirmed the completion of the pre-front-end engineering design phase.
The field was discovered more than two decades ago and is expected to increase crude production, government revenue, foreign exchange earnings and local content opportunities when developed.
2. Obi, Amaechi and Sowore Clash Over Fuel Subsidy at NBA Conference
Presidential candidates and opposition figures Peter Obi, Rotimi Amaechi and Omoyele Sowore engaged in a heated debate over fuel subsidy removal, insecurity, poverty and governance during a Nigerian Bar Association conference in Port Harcourt on Monday.
Opposition Leaders Debate Economic Reforms
Sowore criticised successive administrations over the removal of fuel subsidy and argued that the policy had placed a heavier burden on ordinary Nigerians while benefiting political elites.
Amaechi rejected the criticism of his record as former Rivers State governor and transport minister, urging Nigerians to assess candidates based on their performance rather than ethnic considerations.
Obi maintained his position that subsidy removal could be justified if the proceeds were properly managed and invested in measures that directly reduce hardship for citizens.
The debate also covered state policing, elections and democratic accountability as political parties and candidates intensify preparations for the 2027 elections.
3. Taiwo Hassan ‘Ogogo’ Buried in Ilaro at 66
Veteran Yoruba Nollywood actor Taiwo Hassan, popularly known as Ogogo, was buried in Ilaro, Ogun State, on Monday following his death at 66.
Nollywood Mourns Veteran Actor
Hassan died on Sunday after battling stage-four cancer. Funeral prayers were held at the Asade Agunloye Pavilion Ground before his burial at about 10:50 a.m. according to Islamic rites.
Family members, residents and colleagues, including Yinka Quadri, Jide Kosoko, Femi Adebayo, Faithia Balogun and Ireti Osayemi, attended the ceremony.
Ogogo spent decades working in Yoruba theatre and film and became one of the most recognisable figures in Nigerian cinema. His death attracted tributes from colleagues, fans and public figures, including President Bola Tinubu.
4. FG Warns 11 States Over Planned Lagdo Dam Water Release
The Federal Government has alerted residents of 11 states over the planned controlled release of water from Cameroon’s Lagdo Dam, warning of possible flooding along the Benue River system.
States Listed for Flood Risk
The affected states are Adamawa, Taraba, Benue, Nasarawa, Kogi, Edo, Delta, Anambra, Bayelsa, Cross River and Rivers.
Authorities said the initial release could begin at 100 cubic metres per second and increase depending on upstream inflows.
The National Emergency Management Agency and Nigeria Hydrological Services Agency urged residents in flood-prone communities to monitor official information and prepare for possible emergencies.
Previous releases from the dam have contributed to flooding that affected farmlands, homes and infrastructure in downstream Nigerian communities.
5. Army Arrests Three Suspected Gun Runners, Rescues Six Kidnap Victims in Zamfara
Troops under Operation Fansan Yamma have arrested three suspected gun runners and rescued six kidnap victims in separate operations in Zamfara State.
Rifle, Ammunition Recovered
Soldiers intercepted a vehicle along the Kaura Namoda-Shinkafi Road and recovered an AK-103-2 rifle, a magazine and 30 rounds of ammunition concealed inside a bag of millet.
The suspects were identified as Lukman Sulaiman, Nafiu Isa and driver Adamu Lawali. Preliminary investigations indicated that the weapons were allegedly being transported to Yar-Galadima in Maru Local Government Area.
In another operation along the Anka-Gummi Road, troops engaged terrorists attacking motorists and forced them to abandon six captives. Three victims sustained minor injuries and were treated at a medical facility.
6. Dangote Refinery Extends Free Fuel Delivery to Four More States
The Dangote Petroleum Refinery has expanded its free petroleum product delivery initiative to Kano, Imo, Anambra and Nasarawa states.
Marketers Get Transport Support
The programme already covers Lagos, Ogun, Rivers, Kaduna, Abuja and Delta, with the refinery absorbing transportation costs for eligible independent marketers purchasing specified bulk volumes.
Group Executive Director Fatima Aliko Dangote said the benefits of domestic refining should extend beyond the refinery gate by reducing distribution costs.
Independent marketers have welcomed the expansion, saying lower logistics expenses could help improve competitiveness and create room for more affordable pump prices.
7. Atiku Challenges Tinubu Over Subsidy Savings and Niger Killings
Former Vice President and African Democratic Congress presidential candidate Atiku Abubakar has intensified his criticism of President Bola Tinubu’s administration over fuel subsidy removal and the government’s handling of public finances.
Atiku Demands Accountability
Atiku described the subsidy policy as an economic fraud against Nigerians and demanded greater transparency over the savings and revenues generated since the policy was introduced.
He also criticised the government over recent killings in Niger State, describing the situation as a national disgrace and calling for stronger action against insecurity.
His comments come as economic hardship, fuel prices and security continue to feature prominently in the political debate ahead of the 2027 presidential election.
8. US Mission in Nigeria Closes Abuja Embassy, Lagos Consulate for Eid
The United States Mission in Nigeria has announced the closure of its embassy in Abuja and consulate in Lagos on Tuesday, August 25, to mark Eid-el-Maulud.
Consular Services Affected
The closure will affect routine consular and other public services during the public holiday.
Applicants with scheduled appointments or urgent matters have been advised to monitor official channels for information about rescheduling and service arrangements.
The closure follows the Federal Government’s declaration of August 25 as a public holiday for the Islamic celebration.
9. Naira Records Slight Decline Against Dollar
The naira weakened slightly against the US dollar at the official foreign exchange market on Monday, trading at about N1,346.98 per dollar.
Reserves Remain Above $52bn
The currency movement came after several sessions of relative stability and appreciation. Parallel market rates varied, while Nigeria’s foreign exchange reserves remained around $52.83 billion in mid-August.
Market participants continue to monitor foreign exchange liquidity, reserve levels and broader economic indicators as the Central Bank of Nigeria seeks to maintain greater stability in the currency market.
10. Group Supports Tinubu’s Five-Year Defence Plan
A civil society group has backed President Bola Tinubu’s five-year Strategic Defence Operations Plan and called on the National Assembly to provide sustained funding for its implementation.
Security Funding Under Focus
The plan is designed to improve coordination among Nigeria’s defence, intelligence and security agencies while addressing threats including insurgency, banditry and terrorism.
The group said adequate and consistent funding would be essential to turning the strategic plan into measurable improvements in national security.
Stakeholders have increasingly called for longer-term security planning as Nigeria continues to confront violent criminal and terrorist groups across several regions.
