Shell Plc’s subsidiary in Nigeria will begin oil and gas production offshore at the Bonga North floating facility by the end of the decade.

Shell said on Monday its Nigerian subsidiary has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.

President Bola Ahmed Tinubu has lauded the feat by Shell and its partners in securing Nigeria’s first deepwater project in over a decade, worth $5 billion. Bayo Onanuga, a presidential spokesperson, disclosed this in a statement on Monday.

Nigeria's inflation rate rose for the third straight month in November, advancing to 34.60% in annual terms from 33.88% in October, data from the statistics agency showed on Monday.

Nigeria’s annual inflation rate climbed to 34.60% in November, up from 33.88% in October, according to data released by the National Bureau of Statistics (NBS) on Monday. ・Nigeria's annual inflation rate rose to 34.

Nigeria’s inflation rate for the month of November 2024 rose to 34.60 percent from 33.88 percent in October, indicating worsening hardship for Nigerians. This is according to the National Bureau of Statistics’ latest Consumer Price Index and Inflation for November.