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Shell Invests In Nigeria Offshore Gas Development

Shell invests in Nigeria offshore gas development

 

 Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, together with Sunlink Energies and Resources Limited, have taken a final investment decision (FID) on the HI gas project offshore Nigeria.

 

When completed, the project will supply 350 million standard cubic feet (approximately 60 thousand barrels of oil equivalent) of gas per day at peak production to Nigeria LNG (NLNG; Shell interest 25.6%), which produces and exports liquified natural gas (LNG) to global markets. Production is expected to begin before the end of this decade.

 

“Following recent investment decisions related to the Bonga deep-water development, today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on Deepwater and Integrated Gas,” said Peter Costello, Shell’s Upstream President. “This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market.”

 

The increase in feedstock to NLNG, via the Train 7 project that aims to expand the Bonny Island terminal’s production capacity, is in line with Shell’s plans to grow its global LNG volumes by an average of 4-5% per year until 2030. It will also bolster NLNG’s contribution to Nigeria’s national economic development goals, including jobs in construction and operations.

 

The HI field was discovered in 1985 and lies in 100m of water depth around 50km from the shore. The current estimated recoverable resource volumes of the HI project are approximately 285 mmboe (million barrels of oil equivalent). 

 
MAN Advocates For ‘Proudly Nigeria Day’ to Boost Local Consumption

The Manufacturers Association of Nigeria (MAN) has reiterate its call for the Federal Government to designate an annual “Proudly Nigeria Day.”

President of MAN, Otunba Francis Meshioye OFR giving more perspective to this demand at the opening ceremony of the MAN 53rd Annual General Meeting Tuesday in Lagos said “On this Day, all citizens, especially public officials, should wear, use, and consume only Made-in-Nigeria products.

“Let it be a day of national economic reflection, one that fosters behavioural change and renews national pride. Over time, such a tradition will strengthen consumer awareness and shift cultural perceptions in favour of local products.”

Speaking further on the theme of the AGM “Nigeria First: Prioritizing Patronage of Made-in-Nigeria” Meshioye said the “Nigeria First” agenda is not about closing the doors to the world; it is about opening the right doors to Nigerian-made solutions, Nigerian jobs, and Nigerian ingenuity.

“Every industrialised country in the world today began its journey by nurturing local content and leveraging public and private procurement as an avenue for galvanising scale production and economic development. Nigeria must not go the opposite direction.

“As a matter of urgency, we must institutionalise mechanisms that prioritise Made-in-Nigeria products in government contracts, public spending, and private-sector procurement. Existing Executive Orders—including 003 and 005—must be aligned with the Nigeria First Policy and fully implemented, enforced and monitored. Quite importantly, there must be consequences for non-compliance. We should eliminate the prevalence of selective compliance. Now is the time to create the policy framework for transitioning the Nigeria First Policy from executive pronouncements to legislative imperative and ultimately to unfettered and bold implementation. We cannot continue to allow policy inertia to undermine our development potential,” he said.

Meshioye pointed out that “Beyond policy enforcement, we must also establish a functional, independent compliance agency or institution tasked with auditing patronage levels, recommending corrective action, and publicly disclosing performance across Ministries, Departments and Agencies of government. Let it be known which institutions are genuinely driving local economic empowerment and those that are not. And we should take evident and far reaching corrective and disciplinary measures against the latter. Only then can we truly align government spending with our industrial policy goals.

“Additionally, we have intensified the conversation within! Corporate Nigeria also has a responsibility to align with the “Nigeria First” vision of Mr. President. Multinationals, conglomerates, and large procurement organisations must look within for raw materials, packaging, and inputs. Many of these are already produced locally to global standards and should not be overlooked due to legacy procurement practices or cost assumptions that no longer hold true when long-term economic value is properly considered.”

The MAN President noted that for “Nigeria First” to succeed, supply must meet demand. And for supply to be competitive, the operating environment must improve.
“Let us be clear that manufacturers in Nigeria operate under a tough business environment. Energy costs remain astronomically high. Access to credit is constrained by rising interest rates and limited long-term finance. Infrastructure gaps persist, particularly in logistics and transportation. Insecurity continues to inhibit progressive business planning and operations. In general and despite the onset of relative stability, a lot still needs to be done to overcome macroeconomic headwinds. We must take intentional action to overcome these binding constraints and promote an environment that solves for planning and competitiveness.”

He said MAN is deepening its engagement with the government to shape reforms in infrastructure development, tax policy, industrial financing, and trade facilitation.
“We are expanding our research capacity to better inform advocacy. We are also investing in partnerships that will enable technology upgrade, skills development, and regional market access under the African Continental Free Trade Area (AfCFTA).
“But all our efforts will count for little if the demand side is not unlocked. A truly transformative industrial policy is in the offing and its diligent implementation should support a national demand plan—one that maps out where procurement opportunities exist and how Nigerian manufacturers can be integrated into the demand chains. We must be intentional, just as China is with the Made-in-China 2025; just as India is with the Atmanirbhar Bharat, and just as every successful industrial nation has been,” Meshioye advised.

Access Bank Integrates PAPSS Into AccessMore App, Deepening Pan-African Payment Connectivity.

Access Bank Integrates PAPSS into AccessMore App, Deepening Pan-African  Payment Connectivity | The Bridge News

 

 

Access Bank Plc has taken a major step toward seamless intra-African payments with the recent integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship mobile application, AccessMore. This strategic move underscores Access Bank’s commitment to enhancing cross-border payment experiences for its customers across the continent.

 

To mark the launch, the Chief Executive Officer of PAPSS, Mike Ogbalu III, paid a courtesy visit to the Bank’s head office in Lagos, where he held high-level discussions with Chizoma Okoli, Deputy Managing Director of Access Bank, and Seyi Kumapayi, Executive Director for African Subsidiaries at Access Bank. The discussions centered on deepening collaboration and optimizing the capabilities of PAPSS within the AccessMore ecosystem to deliver real-time, cost-effective, and secure cross-border transactions.

 

Speaking on the partnership, Chizoma Okoli, Deputy Managing Director, Access Bank said, “The integration of PAPSS into the AccessMore app is a significant milestone in our mission to unify Africa’s payment landscape. With Access Bank’s extensive footprint across the continent, this collaboration ensures that millions of our customers can now experience fast, efficient, and transparent cross-border payments like never before.

 

Our goal is to leverage what we are building together to unlock innovations that seamlessly connect the continent, and we are delighted to partner with PAPSS in making this vision a reality”

 

Mike Ogbalu, Chief Executive Officer (CEO) Pan-African Payment and Settlement System (PAPSS), commenting on the collaboration said, “Our partnership with Access Bank is a game-changer for cross-border trade and payments across Africa. With the integration of PAPSS on AccessMore, we are enabling customers, individuals, SMEs, and corporates alike to transact effortlessly across borders, thereby supporting the goals of the African Continental Free Trade Area (AfCFTA).
We’ve created a rail, and Access Bank has the network and customers. Within that, our rail can be used for all sorts of innovations. Access Bank can create products that we can carry on our network for every customer to use”.

 

Also speaking on the broader strategy, Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, commented, “Access Bank’s vision is to be the world’s most respected African bank, and collaborations like this are essential to achieving that. By embedding PAPSS into AccessMore, we’re unlocking a new era of financial connectivity for our customers across our subsidiaries in over a dozen African markets.

 

 

PAPSS is significantly cost effective for cross border transactions, which makes it a highly valuable opportunity. To fully harness its potential, we need greater communication, stronger engagement, and coordinated rollouts across multiple countries at the same time. With the right momentum, we can accelerate adoption and achiever the scale this innovation deserves.”

 

This partnership between Access Bank and PAPSS is a step forward in realizing a fully interconnected Africa, where payments and trade move without friction. Customers can now enjoy a simplified, reliable, and faster method to send and receive money across African borders—directly from their AccessMore app.

 

The Access Bank Payments and Remittances Group manages AccessAfrica — the Bank’s proprietary cross-border payments platform — and oversees all remittance activities between Access Bank’s subsidiaries and international money transfer partners. At the core of its operations, AccessAfrica simplifies global transactions with speed, affordability, and reliability.

 

Currently available in Nigeria and 11 Access Bank subsidiaries across Africa, AccessAfrica enables cross-border payments to over 140 destinations worldwide through multiple channels, including branches, AccessMore, USSD, and Internet Banking. Access Bank is a leading force in African cross-border and remittance solutions, we facilitate a broad spectrum of international transfers — P2P, P2B, B2P, and B2B — reaching over 140 countries, connecting with more than 20,000 banks, and operating in over 20 global currencies. The Group also drives remittance services in partnership with licensed International Money Transfer Operators (IMTOs), enabling customers worldwide to send funds to beneficiaries in Nigeria either as cash payouts or direct bank credits.