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🇳🇬 Shell Approves $2 Billion Offshore Gas Project in Nigeria — A Major Boost for the Nation’s Energy Future

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Global energy giant Shell Petroleum Development Company (SPDC) , in collaboration with Sunlink Energies , has officially approved the development of a new $2 billion offshore gas project in Nigeria. This project, named the HI Gas Field Development , is a landmark step in reviving Nigeria’s oil and gas fortunes and a strong signal of renewed investor confidence in Africa’s largest energy producer. 🔹 A Bold Step in the Offshore Frontier The HI gas field, located in Oil Mining Lease (OML 144) roughly 50 kilometers offshore the Niger Delta coast, is expected to produce about 350 million standard cubic feet of gas per day at peak capacity. Shell holds a 40% stake in the project, while its partner Sunlink Energies retains 60% . The gas will be supplied primarily to Nigeria LNG (NLNG) and other domestic offtakers, helping to meet Nigeria’s rising energy demand. According to project details released by Shell on Monday, the development will include a combination of subsea wells , of...
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🌍 Rising Extreme Poverty in Nigeria: World Bank Sounds the Alarm

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The World Bank has issued a critical warning about the escalating rate of extreme poverty in Nigeria. According to its latest global development report, Nigeria is among the countries witnessing a disturbing increase in the number of people living below the poverty line, with millions struggling to survive on less than $2.15 per day.

The report highlights the devastating impact of conflict, inflation, and weak economic policies on Nigerians, especially those in the northern region. States such as Borno, Zamfara, and Niger continue to suffer from insecurity, displacement, and limited access to basic services like healthcare and education. These factors have worsened poverty levels, making it increasingly difficult for families to meet their daily needs.

In recent years, Nigeria has faced several economic shocks — including the removal of fuel subsidies, naira devaluation, and surging inflation. While these reforms aim to stabilize the economy in the long run, they have placed significant strain on ordinary Nigerians, particularly low-income earners and small business owners.

Food insecurity is also on the rise, with many households unable to afford basic items like rice, bread, and cooking oil. The World Bank emphasized the need for urgent government intervention to prevent further economic hardship. It recommends investing in agricultural productivity, expanding social welfare programs, and promoting job creation to address the root causes of poverty.

Additionally, the Bank urged the Nigerian government to prioritize security, especially in conflict-prone areas, to allow for economic activities to thrive. Without meaningful action, Nigeria risks falling short of its national development goals and the United Nations' Sustainable Development Goals (SDGs) by 2030.

This warning from the World Bank is a wake-up call. The time to act is now — before more Nigerians are pushed into deeper levels of poverty and despair.

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Stay connected to Luchiinter.blogger.com for daily news and development updates across Nigeria.

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