President Bola Ahmed Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026.
Tinubu disclosed this in a statement he shared on his official X account on Thursday.
According to him, the Order, when effectively implemented, would help Nigeria unlock $50 billion in investment in the country’s oil and gas sector.
He noted that the Order would be heralded by the country’s estimated $10 billion Bonga South West project.
“I have therefore signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, to provide clear and predictable terms for a new generation of deep offshore investment in Nigeria.
“The framework has the potential to unlock up to $50 billion in investment, beginning with the approximately $10 billion Bonga South West project.
“For existing deep offshore leases, there is a clear window to reach Final Investment Decision by 31 December 2029 and receive
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