Tinubu approves offshore reform to unlock $50bn investment

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 Bola Tinubu has approved a new investment framework aimed at unlocking up to $50 billion in deep offshore oil and gas investments and reviving major projects that have remained stalled for years.

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