Nigeria: Explainer - What Tinubu's New Deep Offshore Tax Incentives Mean for Nigeria

[Premium Times] 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 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.

According to the Presidency, the framework will support a new generation of deep offshore developments, beginning with the approximately 10 billion dollars Bonga South West project

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