Nigerian President Bola Ahmed Tinubu has issued new policy directives aimed at incentivizing foreign investment in the country’s oil and gas sector.
The executive order introduces new fiscal incentives for oil and gas projects, reduces contracting costs and timelines, and promotes cost efficiency in local content development and partnership initiatives.
The decree aims to establish Nigeria as Africa’s top investment destination for oil and gas investors.
The declaration is part of efforts by the Nigerian president “to remove obstacles to investments in Nigeria, harness the nation’s resources and diversify the economy for the benefit of all Nigerians,” stated a press statement released by the Nigerian State House.
