The Nation Newspaper

Category: Business

  • Woodhall Capital targets $50b to drive Nigeria’s growth

    Woodhall Capital targets $50b to drive Nigeria’s growth

    Woodhall Capital is spearheading efforts to attract $50 billion in global investments aimed at accelerating development projects across Nigeria.

    Founder, Woodhall Capital,  Mojisola Hunponu-Wusu, said the firm has achieved growing momentum in mobilizing international capital.

    According to her, a key milestone in this journey was a pre-investor forum held at the Presidential Villa in Abuja, where representatives from all 36 Nigerian states engaged with global investors and development finance institutions (DFIs).

    She emphasised the importance of strategic partnerships in advancing large-scale infrastructure and energy projects.

    She outlined that in line with this goal, Woodhall Capital will be signing a Memorandum of Understanding (MOU) with the Forum of State Investment Promotion Agencies (FoSIPAN) and the National Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA) to strengthen sub-sovereign and sovereign partnerships.

    Additionally, the company is launching a multi-city investment roadshow, with planned stops in London, Dubai, and potentially Abu Dhabi, to unlock new financing opportunities.

    “At the Abuja forum, we showcased the vast investment potential across Nigeria and emphasized the critical role of African Direct Investments (ADIs) in fostering self-reliance and boosting investor confidence among indigenous stakeholders,” Hunponu-Wusu said.

    Woodhall Capital is also strengthening its presence in key financial hubs like London and Dubai, where it has established offices to deepen relationships with host governments and investors. Discussions at the forum focused on identifying viable investment opportunities and highlighting Nigeria’s economic potential.

    Hunponu-Wusu underscored the importance of national pride and intra-African trade, advocating for increased collaboration among African nations. “When we invest in ourselves, we send a powerful message to the world about our confidence and capabilities,” she noted.

    The event drew over 400 participants, including senior officials from the Vice President’s office, banks, and investment groups, demonstrating a growing appetite for cross-border collaboration in trade and investment.

    She praised the Nigeria Governors’ Forum for its proactive role in engaging indigenous firms to tell Nigeria’s investment story, reinforcing the message that Africa is ready for meaningful investment dialogue.

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    Hunponu-Wusu also acknowledged the positive shift in Africa’s investment climate under President Bola Tinubu’s leadership. “Africa is rich in talent and resources, and governments are increasingly open to strategic partnerships. This is the environment that encourages firms like ours to pursue global investment opportunities,” she said.

    A key initiative in this effort is the Woodhall Africa Trade Gateway, a digital platform developed in partnership with the African Export-Import Bank (Afreximbank). Designed to facilitate intra-African trade, the platform serves as a marketplace for sourcing commodities within the continent—an “African Amazon” for trade.

    Addressing gender disparities in the industry, Hunponu-Wusu encouraged young African women to focus on adding value and honing their unique talents. “Recognition comes from genuine contributions, whether at home or in the workplace,” she advised.

    She also highlighted Woodhall Capital’s commitment to supporting sub-national entities in attracting investment. “We plan to visit all 36 states in Nigeria to assess opportunities and collaborate with state governments in presenting these prospects to international investors,” she said.

    This initiative aims to spotlight the unique investment potential of each state and drive inclusive economic growth across the country.

  • Nigeria’s LPVT solar panels earn global certification

    Nigeria’s LPVT solar panels earn global certification

    In a major stride for Nigeria’s renewable energy sector, LPV Technologies’ locally manufactured solar panels have earned the prestigious TÜV SÜD certification, meeting the rigorous International Electrotechnical Commission (IEC) standards, marking a significant boost to the nation’s renewable energy sector.

    The company said in a statement yesterday that the milestone not only affirms the quality of LPVT’s solar modules but also signals a new era for locally produced clean energy solutions in the country.

    According to the company, the TÜV SÜD mark is globally recognized as a symbol of safety, reliability, and performance.

    “For LPVT, this certification validates strong investment in European-standard production processes, precision engineering, and multi-layered quality assurance. The company’s production line, powered by Ecoprogetti technology, one of Europe’s leading solar manufacturing systems, ensures that every panel meets international benchmarks for durability, efficiency, and long-term performance.

    “In a market flooded with low-grade, untraceable solar imports that often fail to deliver promised performance, LPVT’s TÜV-certified panels stand out. Built with advanced monocrystalline cells and tested under both international and local conditions, these panels offer superior energy yield, lower degradation rates, and reliable performance even in low-light environments—an essential feature for Nigeria’s diverse climate.

    “Achieving TÜV SÜD certification is more than a badge; it’s a statement of excellence from our production team,” Head of Operations at LPVT Technologies, Emmanuel Agboola, said.

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    According to him, it confirms that Nigerian-made solar panels are not just viable locally, they’re world-class in quality, reliability, and innovation.

    He said as Nigeria grapples with energy access challenges and seeks to expand its renewable energy footprint, LPVT’s TÜV-certified panels offer a timely and credible solution.

    “With government initiatives pushing for increased local content and reduced reliance on imports, LPVT’s achievement aligns perfectly with national goals,” he said.

    However, he said industry experts believe this development could catalyze a shift in perception around locally manufactured solar products. The company’s strategic approach combines European-standard precision with Nigerian ingenuity. By leveraging local talent and conducting multiple rounds of quality validation, including field testing across various terrains, LPVT ensures that its panels are not only built to last but built for Africa.

    Looking ahead, LPVT’s breakthrough is not just a win for the company, it’s a win for Nigeria’s energy future. By setting a new benchmark for quality and reliability, LPVT is paving the way for other local manufacturers to follow suit, potentially transforming Nigeria into a hub for premium solar technology in West Africa,” the company stated.

    As the sun rises on a new chapter in Nigeria’s energy story, LPVT’s TÜV-certified panels are lighting the way, one project at a time, the company said.

  • MOWCA, Singapore in talks for port modernisation, greener shipping pact

    MOWCA, Singapore in talks for port modernisation, greener shipping pact

    The Maritime Organisation of West and Central Africa (MOWCA) has commenced strategic talks with Singapore’s Maritime and Port Authority (MPA) to deepen cooperation on port modernisation, capacity building, and the transition to greener shipping among its member states.

    During a bilateral meeting in Singapore, MOWCA’s Secretary General, Dr. Paul Adalikwu, met with the Chief Executive of the MPA, Ang Wee Keong, where he sought Singapore’s expertise in port infrastructure, digitalisation, and environmentally sustainable shipping practices.

    Adalikwu said MOWCA was keen to draw from Singapore’s globally acclaimed port model to replicate similar standards across West and Central African ports.

    “We are seeking closer working ties and the expertise of Singaporean authorities in areas such as human capital development, infrastructural upgrade and maintenance, and cargo handling,” he stated.

    He further emphasised the importance of digitalisation in achieving efficiency at ports, advocating for a maritime single window system and harmonised documentation processes to ease import and export procedures.

    According to him, “There is a need for harmonisation and single document submission for seamless end-to-end processing of import and export procedures in ports.”

    On environmental sustainability, Adalikwu reaffirmed MOWCA’s commitment to the International Maritime Organisation’s (IMO) target of achieving net-zero greenhouse gas (GHG) emissions by or around 2050, stressing that the organisation has set advisory timelines for member states to align with the goal.

    “MOWCA is planning to reduce emissions by at least 20 per cent before 2030, and a technical collaboration with the Singaporean Maritime and Ports Authority would be helpful in achieving compliance with the IMO target by MOWCA states,” he said.

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    Adalikwu noted that a modernised port system capable of delivering efficient services is critical to driving the blue economy agenda at both national and sub-regional levels.

    In his remarks, Keong commended MOWCA’s initiative and reaffirmed Singapore’s readiness to support the region’s maritime development ambitions.

    “We appreciate your visit and express our willingness to collaborate with MOWCA on all requested areas. We are optimistic about the rapid maritime development of partnering MOWCA countries,” Keong stated.

    Both sides agreed to reconvene in London later this year for the formal signing of a Memorandum of Understanding (MoU) that will outline the modalities for technical cooperation between the two organisations.

    As part of the partnership gesture, Adalikwu also pledged the support of MOWCA’s 25 member states toward Singapore’s IMO Council seat in the forthcoming elections.

  • Bi-Courtney reaffirms commitment to passengers’ security

    Bi-Courtney reaffirms commitment to passengers’ security

    Bi-Courtney Aviation Services Limited (BASL), operators of the Murtala Muhammed Airport Terminal Two (MMA2), has reiterated its unwavering commitment to the safety and security of all passengers and their belongings.

     Its Acting Chief Operating Officer, Remi Jibodu, said this at a transport summit  in Lagos.

    Mr Jibodu emphasised the terminal’s innovations in security infrastructure, adding that airports must have very strong security infrastructure.

     “At MMA2, the safety and security of our passengers and their belongings are paramount. We understand that a secure environment is fundamental to the trust and confidence our users place in us.”

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    Remi Jibodu, who also doubles as Head, Aeronautics and Cargo Services.said  there were instances where passengers requested CCTV playback to trace misplaced or forgotten items, and a pleased Jibodu stated that all items were successfully tracked and found.

    “We have a robust surveillance system, a dedicated security team, and a close working relationship with law enforcement agencies. Our security systems are highly effective.

    . “Our goal is to provide passengers with a safe and secure travel environment, and we are continuously enhancing our systems to uphold this commitment,” he affirmed

    The summit, chaired by Fola Tinubu, Chief Executive Officer of Primero Transport Services Limited, providing opportunity for experts to examine the  multimodal transport framework and how to  deliberately build a sustainable transport future through innovation, private sector participation, and strong institutional collaboration.

  • Wema Bank rewards teachers

    Wema Bank rewards teachers

    Wema Bank has celebrated the winners of its “2025 Wema at 80 Teachers Day Campaign”, recognising and rewarding educators whose influence has shaped generations of students.

    The award ceremony, held at the bank’s headquarters in Marina, Lagos, announced the top five teachers who received over N4.5 million worth of prizes for their exceptional contributions to education in Nigeria.

    The event, themed ‘Celebrating Teachers with a Legacy of Impact’, was an initiative that recognised and rewarded educators whose influence has shaped generations of students.

    Managing Director, Wema Bank, Moruf Oseni, emphasised that teachers are the unsung heroes behind every great achievement, and their dedication to nurturing minds and shaping the next generation is what builds strong nations.

    “Today, we are honoured to celebrate our educators. The teachers who have impacted lives. We celebrate their resilience and dedication, especially as we mark 80 years of empowering communities and driving positive impact. The Wema Bank Teachers Day Campaign is one of the initiatives that we have used to invest in the education sector at large.”

    The winners were Abraham Ngobiri, founder of Teens-Train, who received ₦2 million; Mrs. Esther Babasola Adesada, founder of Heritage X Foundation, who received ₦1.5 million; and Ms. Taiwo Alabi, founder of Educycle, who received ₦1 million.

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    Ngobiri used his platform to impact social change by coaching, mentoring and counseling teens, saw the recognition as a fuel to do more. He expressed gratitude to the Bank and his students, saying it felt good to see teachers celebrated and rewarded by those they have taught.

    “For many years, teachers have given their all quietly, and what Wema Bank has done today makes us feel seen and valued. This recognition fuels our commitment to keep shaping lives.”

    Adesada described the recognition as “a huge motivation and a pick-me up in a year where I was battling self-doubt in my calling,” adding that “it’s a pointer that no matter the difficulty faced in doing your part, you should keep doing it. The children and even the world are observing, and it will come back to you beautifully one day.”

    Alabi said, “To be recognized on this platform means a lot, not just for me but for every teacher who wakes up daily to inspire the next generation. Thank you, Wema Bank, for leading this movement.”

    The Wema At 80 Teachers Day Campaign was launched in September 2025, inviting students and alumni to post 80-second videos celebrating unforgettable teachers.

    Ten remarkable teachers were shortlisted, with three emerging as overall winners following a rigorous judging process. Wema Bank’s Teachers’ Day Campaign has grown into a nationwide movement, investing over ₦20 million in prizes and mentorship programs, impacting over 3,000 students and 10 schools.

  • LECON Finance disburses N30b

    LECON Finance disburses N30b

    LECON Finance Company Limited, a Central Bank of Nigeria (CBN)-licensed finance company, says it has disbursed over N30 billion in leases to businesses nationwide.

    This achievement reinforces its pivotal role in powering Nigeria’s productive sectors and expanding the country’s leasing ecosystem.

    “Since inception, we have financed over 2,000 projects across key industries including agriculture, healthcare, logistics, manufacturing, education, transportation, construction, and renewable energy.

     In the last five years alone, the company has supported more than 230 projects, enabling enterprises to acquire vital equipment and assets that enhance productivity, drive innovation, and create jobs,” it said in a statement.

    Through its strategic leasing and financing solutions, LECON has emerged as a catalyst for inclusive and sustainable economic growth. The company focuses on sectors critical to Nigeria’s long-term prosperity — food and agro-processing, mining and solid minerals, renewable energy and climate, healthcare and pharmaceuticals, ICT and telecommunications, and women-led enterprises.

    By making productive assets accessible to smallholder farmers, schools, healthcare providers, transport operators, and emerging entrepreneurs, LECON is closing the financing gap that limits the potential of underserved groups. These interventions are transforming local industries and boosting Nigeria’s productivity.

    Reaffirming LECON’s dedication to making leasing available to businesses, the Managing Director/CEO, Mrs. Ebehiriere Ehi-Omoike, said “we are on a mission to democratize access to productive assets for businesses of all sizes to create real impact. These milestones reflect our dedication to building a resilient and inclusive financial ecosystem,”

    As one of the earliest institutions in Nigeria’s leasing industry, LECON remains a cornerstone of Nigeria’s leasing ecosystem having been instrumental in legitimizing leasing as a credible and effective financing tool for large corporates and MSMEs alike.

    By offering flexible, asset-backed financing, LECON empowers businesses to invest in modern equipment without the heavy burden of upfront capital costs. This model has strengthened confidence in leasing as a sustainable growth instrument, helping enterprises expand and thrive.

    The company continues to shape Nigeria’s leasing landscape through thought leadership and active participation in the Equipment Leasing Association of Nigeria (ELAN), where it is a pioneer member.

    LECON’s strong institutional credibility and financial strength anchors its reputation for sound governance, risk management, and operational discipline which has earned it a consistent “A+” credit rating from Agusto & Co., thus confirming its robust financial health and institutional resilience.

    As a CBN-licensed finance company and a subsidiary of the Bank of Industry (BOI), LECON operates with full regulatory compliance and a clear mandate to deliver financial solutions that promote inclusive growth and national development.

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    LECON’s heritage spans more than five decades. Established in 1970 under Nigeria’s indigenization policy as the Commonwealth Development Corporation (CDC), it was later acquired as a wholly owned subsidiary of the Nigerian Industrial Development Bank Limited (NIDB) — the precursor to today’s Bank of Industry (BOI).

    In 1989, it became the Leasing Company of Nigeria (LECON) to reflect its focus on leasing. In 2022, the pioneer institution was rebranded as a legacy institution with a modern vision to LECON Finance Company Limited, signaling a new era of transformation, growth, and broader financial inclusion.

    LECON’s N30 billion lease portfolio represents more than financial success — it reflects tangible economic and social impact. Through its leasing operations, the company has facilitated job creation across key sectors, improved productivity for local enterprises, financial inclusion for underserved entrepreneurs and empowerment of women-led and youth-driven businesses

    Its project portfolio covers agro and food processing, healthcare, petrochemicals, education, transport, logistics, manufacturing, construction, renewable energy, solid minerals, mining, and aviation with each project contributes to a more resilient, diversified Nigerian economy.

    As Nigeria continues to pursue economic diversification, LECON remains committed to driving inclusive and sustainable financing. The company’s mission is to enable businesses — large and small — to access the productive assets they need to grow, compete, and create long-term value.

  • Nigeria’s bonds slip on Trump’s threat

    Nigeria’s bonds slip on Trump’s threat

    Nigeria’s sovereign bonds slipped yesterday after United States President Donald Trump threatened military action in the country if it did not take action to protect Christians, but veteran investors said the fallout was likely to be limited.

    Longer-dated bonds fell the most, with the 2051 issue falling roughly 0.5 cents before retracing some of the losses to bid at just under 92 cents on the dollar, in contrast with flat trading for most emerging market bonds.

    Trump said on Sunday the U.S. military could deploy troops to Nigeria or carry out airstrikes to stop what he called the killing of large numbers of Christians in the West African country.

    Nigeria, which has struggled to stem nationwide violence, said it would welcome U.S. help in fighting Islamist insurgents as long as its territorial integrity was respected.

    Attacks from Islamist insurgencies in the Northeast, bandits in the Northwest and bloody clashes between farmers and herdsmen in the Middle Belt killed some 3,570 civilians last year, according to the Armed Conflict Location and Event Data Project.

    Experts say the majority killed by radical Islamist groups are Muslim, while violence against Christian farmers in the Middle Belt is driven more by a battle for land than religion.

    Investors were largely unfazed by the threat.

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    “The dip seems contained and has partly reversed since,” Head of Africa strategy at Standard Chartered in London, said Samir Gadio, said referring to Eurobond prices.

    Foreign investors have largely viewed Nigeria as an attractive destination for their cash this year, bolstered by economic reforms from President Bola Tinubu, including scrapping costly fuel subsidies and allowing the naira currency to devalue.

    Nigeria’s equities are up around 65per cent year-to-date in total U.S. dollar return terms, according to Tellimer, making them the best performer in African emerging markets behind Ghana.

    The country’s bond spreads have also narrowed enough that it has been eyeing billions in bond sales this year.

    “My sense is that this will not become a major concern for the market,” said Aberdeen fund manager Kevin Daly, citing expectations that Nigerian officials would discuss the situation with their U.S. counterparts.

    And for now, the areas of concern are far from the oil-producing southern part of the country and the commercial capital, Lagos.

    “U.S. military strikes, which still look very unlikely, on the northern or central-north regions of Nigeria are unlikely to have much economic impact because of the lack of commercial activity and the existing disruption in these regions,” said Tellimer’s Hasnain Malik, adding that Trump’s threats were, for now, “a red herring for the investment case”, which should focus on economic policy reforms and good valuations.

  • Apapa Customs’ 10-month revenue hits N2.4tr

    Apapa Customs’ 10-month revenue hits N2.4tr

    The Apapa Area Command of the Nigeria Customs Service (NCS) has generated N2.4 trillion between January and October 2025, surpassing its total collection for the entire year of 2024 two months ahead of schedule.

    According to a statement signed by the Command’s Public Relations Officer, Superintendent of Customs Tunde Ayagbalo, the Command also achieved a N304 billion in October alone, the highest monthly revenue ever collected by any Customs Command in the Service’s history.

    Customs Area Controller, Comptroller Emmanuel Oshoba, hailed the performance as “the beginning of greater revenue generation exploits” and attributed it to the dedication of officers, compliant stakeholders, and ongoing modernisation reforms designed to strengthen revenue efficiency and trade facilitation.

    He said: “I commend my officers and our compliant stakeholders for this revenue collection milestone, but it’s not our final destination. This is the beginning of greater revenue generation exploits under our watch.”

    Oshoba said the Command is fully prepared for the introduction of a “Drive-Through Scanning regime” capable of processing an average of 150 containers per hour directly from the quayside.

    Describing the initiative as revolutionary in the history of port operations across West Africa, he said the system will drastically reduce cargo clearance time and enhance trade efficiency at the country’s busiest port.

    He said the Command’s officers, including newly promoted Deputy and Assistant Comptrollers, have undergone “specialised in-house training” to ensure readiness for the scanning regime — in line with the Comptroller-General of Customs, Adewale Adeniyi’s directive to modernise operations and strengthen professionalism.

    “We are deploying all tools of trade facilitation as directed by the CGC, including the One-Stop-Shop (OSS) which harmonises all Customs procedures to save time and promote efficiency. At the same time, we are ensuring there are no revenue leakages”.

    The Area Controller reaffirmed the Command’s “zero-tolerance stance on revenue shortfalls”, noting that officers are actively using Demand Notices (DN) to recover unpaid duties and closely monitoring Harmonised System (HS) Codes to prevent misclassification and evasion.

    “My officers are very vigilant, checking any attempt to misapply HS Codes for duty evasion,” he said.

    Oshoba added that the Command continues to strengthen the One-Stop-Shop (OSS) system, harmonising Customs processes to make cargo clearance more seamless while ensuring compliance with global standards.

    In line with efforts to improve trade flow, Oshoba revealed that he has been conducting unannounced visits to sections of the Apapa port access roads to engage directly with truckers, freight forwarders, and licensed Customs agents.

    He said these engagements were aimed at enhancing coordination with the Nigerian Ports Authority (NPA) to facilitate the swift evacuation of cleared consignments and prevent congestion that could impede scanning and examination processes.

    “If cleared consignments fail to exit, new ones coming for examination or scanning would be slowed down. This affects trade directly and impacts the NCS’s revenue collection and trade facilitation mandates,” he explained.

    Oshoba also visited the Apapa Port Manager to deepen inter-agency synergy, underscoring that efficient cargo movement is vital for sustaining revenue growth and port competitiveness.

    The Area Controller has called for stronger collaboration between the Customs Service and the media to promote transparency, efficiency, and public trust in port operations.

    Speaking during a courtesy visit by members of the Maritime Correspondents’ Organisation of Nigeria (MARCON), Oshoba emphasised that constructive communication and feedback from journalists play a key role in institutional growth and accountability.

    “I’ve said it before — I’m a man whose second name is collaboration. That’s why I see the critical role of assessing our performance as a shared responsibility,” he said.

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    According to him, Customs operations thrive on transparency and stakeholder engagement, particularly in a strategic port like Apapa, which handles over 40 per cent of Nigeria’s seaborne imports and exports.

    “Whatever we do here, someone must be able to see it. If you cannot see yourself clearly, somebody else will. Feedback is important because no matter how good we think we are, we are all works in progress,” Oshoba noted.

    He urged officers to view external assessments as opportunities for growth rather than criticism, adding that effective communication with the public enhances the Service’s reputation and fosters mutual understanding.

    “If someone points out your shortcomings, take it as a guide to improve. We must all continue to perform better for the Command, for the Service, and for Nigeria,” he added.

    Oshoba reaffirmed his commitment to upholding the image and mandate of the Service through diligence, patriotism, and transparency.

    “Being in uniform does not make us more patriotic than any other Nigerian. We are all citizens striving for the success of our nation. Let us work together to project the image of Customs and achieve our collective mandate,” he stated.

    Industry analysts have credited Apapa Command’s sustained performance to ongoing efforts to “streamline cargo clearance, expand automation, and strengthen compliance” among importers. The Command’s drive for “transparency, collaboration, and technological innovation” is also seen as a key factor behind its consistent revenue growth despite global trade disruptions and local economic headwinds.

    According to experts, with over N2.4 trillion generated in ten months and historic efficiency gains, the Apapa Command under Comptroller Oshoba continues to set the pace for Customs modernisation; reinforcing its role as a critical pillar of the country’s trade facilitation and fiscal sustainability agenda.

  • Sahel Consulting, others to build homegrown food systems

    Sahel Consulting, others to build homegrown food systems

    Sahel Consulting Agriculture & Nutrition Ltd. in partnership with the Mastercard Foundation, Heifer International, and GIZ hosted the 2025 changemakers conference.

    The event which brought together policymakers, business leaders, farmers, and development partners from across Africa aims to help change makers rethink on how agricultural systems are designed and sustained and well build a shift from short-term intervention projects to a people-centred and sustainable transformation of Africa’s food systems.

    The theme : “Designing for Legacy: Building Resilient and Impact-Driven Food Systems”

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    Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, emphasised that food systems transformation must remain central to national development planning. “Building resilient and impact-driven food systems should be hardwired to any economic plan,” he said.

    “It is a demonstration that the food system moved from primitive practices to modern, innovative and creative systems.”

    The Minister of Agriculture and Food Security, Abubakar Kyari, represented by Director and Head of the Ministry’s Nutrition and Food Safety Department, Nuhu Kilishi outlined the need to strengthen agricultural value chains, reduce post-harvest losses, and prioritise the inclusion of women, youth and marginalised farmers in the growth process.

  • Chevron expands into Guinea-Bissau

    Chevron expands into Guinea-Bissau

    Chevron has entered Guinea-Bissau’s offshore exploration sector, marking a new milestone in the company’s West African growth strategy.

    Through its wholly owned subsidiary, Chevron Guinea Bissau Exploration I, Ltda., the company will operate offshore Blocks 5B (Carapau Exploration License) and 6B (Peixe Espada Exploration License) in the MSGBC Basin, holding a 90 per cent working interest in each.

    According to a statement by Laura Hurst, Chevron’s External Affairs Advisor, Media Relations, the country’s national oil company, Petroguin, retains the remaining 10 per cent interest, and the transaction has received all required regulatory approvals.

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    The agreement strengthens Chevron’s presence in the MSGBC Basin—which spans Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry—and aligns with the company’s goal of expanding its exploration portfolio with high-potential deepwater assets.

    “Chevron is happy to begin a new chapter with Guinea-Bissau, in alignment with our exploration strategy of adding high-quality acreage to our global portfolio,” said Liz Schwarze, Chevron’s Vice President of Exploration, following a signing ceremony in Bissau alongside Petroguin General Director, Celedonio Vieira.