Tinubu approves framework to unlock $50bn deep offshore investment
Synthesised from 2 African sources
The reform replaces project-by-project negotiations with a transparent, rules-based investment framework designed to attract long-term capital into Nigeria’s offshore oil and gas sector.“The objective is not only to increase investment and production, but also to create skilled jobs, deepen local supply chains and position Nigeria as Africa’s regional hub for deep offshore project execution,” she said.
The decision follows Tinubu’s engagement with Shell plc Chief Executive Officer, Mr Wael Sawan, during which measures to unlock Nigeria’s deep offshore investment pipeline were discussed.
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