EXPLAINER: What Tinubu’s new deep offshore tax incentives mean for Nigeria
“I have signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, creating a clear and predictable framework capable of unlocking up to $50 billion in deep offshore investment, beginning with the approximately $10 billion Bonga South West project,” the president wrote.
President Bola Tinubu announced on Tuesday that he approved the Deep Offshore Oil and Gas Tax Credit Order, 2026—a new fiscal incentive designed to attract large-scale investments into Nigeria’s deep offshore oil and gas sector.
Nonetheless, if the new deep offshore policy delivers as intended, Nigeria could see new offshore projects, increased oil production, more employment, stronger local businesses and greater technical capacity.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
