Nigeria Secures $20 Billion Deepwater Investment for Bonga Southwest Aparo Project

March 12, 2026,Abuja, Nigeria

Nigeria has taken a significant step forward in attracting deepwater oil investment following the approval of fiscal incentives for a major offshore project.

The Nigerian National Petroleum Company Limited (NNPC Limited) announced that it has secured presidential approval for fiscal incentives aimed at unlocking a $20 billion Final Investment Decision (FID) for the Bonga Southwest Aparo deepwater project.

According to the company, the approval is expected to accelerate investment and development in Nigeria’s offshore oil sector while strengthening the country’s position as a major energy producer.

The Bonga Southwest Aparo project is a major deepwater oil development expected to significantly boost crude oil production, generate revenue, and create employment opportunities in the country.

NNPC Limited noted that the project represents a key milestone in Nigeria’s efforts to attract large-scale investments into the energy sector and ensure long-term sustainability of oil production.

Officials added that the move demonstrates the commitment of the Federal Government of Nigeria to creating a favourable investment climate and advancing strategic projects within the nation’s oil and gas industry.