EXPLAINER: What Tinubu’s new deep offshore tax incentives mean for Nigeria

President Bola Tinubu has approved a new tax incentive framework for deep offshore oil and gas projects, designed to attract up to $50 billion in fresh investment, accelerate stalled developments and increase Nigeria’s crude oil production.

President Tinubu has approved a new framework to attract $50bn in deep offshore investment, replacing project-by-project negotiations with clear rules.