• Order grants $3-$4.50/bbl standard tax credit, plus $1/bbl for future leases
•Incentives available to greenfield projects reaching FID by 2029
•Tax credits aimed at accelerating investments in oil sector
Deji Elumoye and Emmanuel Addeh in Abuja
President Bola Tinubu has approved a landmark reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to $50 billion in deep offshore investment and restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades.
