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JOHN MAHAMA SWORN IN AS GHANA’S PRESIDENT FOR THIRD TERM AMIDST ECONOMIC CRISIS

John Dramani Mahama was sworn in as Ghana’s president for an unprecedented third term on Tuesday, marking a significant milestone in the country’s history. The ceremony, held at the Independence Square in Accra, was attended by thousands of Ghanaians from all walks of life, as well as dignitaries from across the continent. Mahama, 66, who previously served as president from July 2011 to January 2017, won the presidential election late last year on a promise to tackle Ghana’s worst economic crisis in a generation, corruption, and unemployment. His campaign prioritized the economy and resonated with young Ghanaians who saw the vote as a way out of the crisis. In his address, Mahama acknowledged the challenges facing the country, saying, “There is a seismic shift happening within the system of global economic dominance.” He emphasized the need for regional cooperation, stating, “Now more than ever before, we need to strengthen our ties with our neighbors to ensure that we are working together to keep our sub-region safe.” Mahama’s inauguration marks a new chapter in Ghana’s history, as he prepares to tackle the country’s economic woes and restore stability. His leadership will be closely watched by the international community, as Ghana seeks to regain its footing as a stable democracy and economic powerhouse in West Africa.

PRESIDENT TINUBU WELCOMES SHELL’S FINAL INVESTMENT DECISION ON BONGA NORTH DEEP OFFSHORE FIELD.

PRESIDENT TINUBU WELCOMES SHELL’S FINAL INVESTMENT DECISION ON BONGA NORTH DEEP OFFSHORE FIELD President Bola Ahmed Tinubu has welcomed Shell and its partners’ announcement of the Final Investment Decision (FID) on the Bonga North Deep Offshore Field. This landmark development, Nigeria’s first deepwater oil project in over a decade, underscores the transformative impact of the President’s policies and reforms in attracting investments in the oil and gas sector. The Bonga North oilfield, located 130 kilometres offshore in Oil Mining Lease (OML) 118, represents an impressive estimated $5 billion investment and is expected to yield approximately 350 million barrels of crude oil. Shell holds the largest operational interest, with 55%. Its other partners are the Nigerian National Petroleum Corporation (NNPC), ExxonMobil, TotalEnergies, and Eni. According to President Tinubu, “The Renewed Hope Agenda fundamentally focuses on attracting investments to transform the Nigerian economy and deliver prosperity to our people. We designed our policies and reforms from the start of my administration to achieve this goal. Shell and its partners’ decision to invest in Bonga North affirms the success of our efforts. We will continue to offer the necessary support to ensure their success and the realisation of Nigeria’s energy potential.” The Bonga North project is the second of the blueprint projects President Bola Ahmed Tinubu selected to drive the implementation of the transformative Presidential Directives 40, 41, and 42 issued in the first quarter of 2024. These directives, aimed at enhancing regulatory clarity, accelerating project timelines, and incentivising investment in Nigeria’s energy sector, have yielded remarkable results. Ms Olu Arowolo Verheijen, Special Adviser to the President on Energy, noted that “The Bonga North FID dispels the misconceptions about International Oil Companies leaving Nigeria. Instead, we are witnessing a strategic pivot of IOCs-powered capital and technical capacity to deepwater and integrated gas projects, which align with President Tinubu’s vision of transforming Nigeria into a global energy hub.”