President Bola Tinubu’s approval to gazette targeted, investment-linked incentives for Shell’s Bonga South-West (BSW) deep-offshore oil project has stirred intense interest across Nigeria’s energy sector, even as the specifics of the incentives remain undisclosed weeks after the announcement.
The development was announced by the Presidency, but neither the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) nor the President’s energy advisory team has released details on the nature, duration, or conditions attached to the incentives.
The silence has left investors, analysts, and policymakers parsing industry signals, with experts pointing to Nigeria’s broader struggle to revive deep-offshore investment amid declining production and heightened fiscal scrutiny.