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100% of Zero is Zero: What NLNG Teaches Us About the Bonga SW Tax Incentive

Babs Omotowa Bloomberg recently reported that the Federal Government has agreed to an $11.5-per-barrel tax incentive to enable Shell's $20 billion Bonga South West project to finally proceed.  Some commentators have described the tax incentive as "unusually generous" — reportedly double the standard fiscal terms for deepwater projects in Nigeria. They argue that a previous Executive Order had capped such tax credits at 20% of a licensee’s annual tax liability. It is a fair question to ask.  But before we answer it, it is worth starting with a simple truth: an untamed river does not irrigate any farm; a locked vault, however full, pays no one's school fees. That is the essence of "100% of zero is zero."  The Bonga South West field — 150,000 barrels a day, discovered in 1995 — has sat stranded since 2010. This is nearly two decades of idle oil that has paid no dividends, created no jobs, and funded no roads, simply because it has never been allowed t...
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Lehigh University Speech

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Nigerian higher education leader Babs Omotowa shared his vision for building a world-class university in Africa that empowers the continent’s next generation of innovators and leaders during a talk at Lehigh University’s Iacocca Global Leaders Speaker Series. When Babs Omotowa took the stage at  Lehigh University   this week, he shared a bold vision for the future of higher education in Africa: one grounded in innovation and leadership, aimed at equipping graduates with globally competitive skills to reverse the continent’s migration of talent and spur economic transformation. Babs Omotowa speaking at Lehigh University. “Our goal is to build a Top 50 worldwide university in Africa,” Omotowa said. “That’s quite a huge ambition, but that’s the quality of what we’re seeking to build.” Babs Omotowa, founding president of the  Nigerian University of Technology and Management (NUTM), spoke at Lehigh on Nov. 10 as part of the Iacocca Global Leaders Speaker Series, hosted by the...
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The Principle of a Problem as an Opportunity

There are countless problems in Nigeria—and worldwide—and many people today are frustrated, complaining about issues ranging from high living costs to poor infrastructure and governance. While it is true that numerous aspects of our country need improvement and that our leaders have significant work to do, having the right perspective is crucial. Many see problems as obstacles hindering their progress, leading to frustration and endless complaints about the government and society. However, a more productive approach is to view problems as opportunities for growth and wealth creation. Those who solve problems, drive positive change, and act as catalysts for transformation often benefit financially and socially. For instance, when analogue phones were limited by their lack of mobility, some saw this as an opportunity rather than a drawback. The creation of the mobile phone revolutionized communication, and today, companies like Apple are valued at over three trillion dollars. Similar...
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Town and Gown in Sync: Transforming the Nation!

Speech by Babs Omotowa at Rivers State University on Friday, 8th November 2024 -------------------------------- Salutation The Executive Governor of River State, HE Sir Siminlayi Fubara, GSSRS Deputy Governor, River State, Prof Ngozi Odu, DSSRS Pro-Chancellor and Chairman of Council, RSU, Hon Justice Mary Ukaego Peter Odilli, CFR, DSSRS, JSC (Rtd) The Vice-Chancellor, Professor Nlerum Sunday Okogbule, DSSRS, FCIArb The Special Guest of Honour, HRM Dr Edmund Dakoru, King of Nembe Kingdom Principal Staff Officers of the University Distinguished ladies and Gentlemen, Please permit me to follow the established protocol. It is an honor and a privilege to be a Special Guest Speaker today. This is my first visit to Rivers State University (RSU), and I want to commend the State Government and the university staff for their dedication since the institution's founding in 1980, recognizing that its origins trace back to the Rivers State College of Technology, established i...
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