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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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Vietnam–Nigeria Trade Soars to $1 Billion in 2024

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In a significant boost to economic diplomacy, trade between Vietnam and Nigeria has reached a record-breaking $1 billion in 2024. This was revealed by the Vietnamese Ambassador to Nigeria, Mr. Bui Quoc Hung, during a roundtable meeting in Abuja to mark the 135th birthday of Vietnamese revolutionary leader, Ho Chi Minh.

According to the ambassador, the trade milestone shows the growing strength of bilateral relations and economic cooperation between the two countries. In previous years, trade volume hovered around $500–600 million, but 2024 saw that figure almost double, marking a new phase in Vietnam–Nigeria economic engagement.

Vietnam, known globally for its manufacturing strength in electronics, textiles, and machinery, exports a large portion of these goods to Nigeria. In return, Nigeria supplies Vietnam with agricultural commodities like cashew nuts, ginger, and sesame seeds. This balanced trade relationship reflects the potential for stronger collaboration in agribusiness and industrial development.

The ambassador emphasized that beyond trade, there are also vast opportunities in areas such as education, renewable energy, technology, and cultural exchange. He noted that Nigeria could learn from Vietnam’s impressive post-war economic transformation, which has turned the Southeast Asian country into one of the fastest-growing economies globally.

As both nations prepare to mark 50 years of diplomatic ties in 2026, stakeholders believe this $1 billion mark is just the beginning. New partnerships are expected in infrastructure, fintech, manufacturing, and tourism.

This development is a clear indication that with the right policies, Africa and Asia can build stronger trade bridges, improve local economies, and empower their people through mutual growth.

Vietnam–Nigeria trade relations are no longer just promising—they are thriving.


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