The Nigerian National Petroleum Company Limited (NNPC Ltd) has applauded the Federal Government’s signing of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, describing it as a landmark reform that will enhance Nigeria’s competitiveness for deep offshore investment.
President Bola Tinubu approved the order on Tuesday as part of efforts to attract large-scale investments into Nigeria’s deep offshore oil and gas sector.
In a statement issued on Thursday, NNPC said the new order establishes a transparent, predictable, and globally competitive fiscal framework for qualifying greenfield deep-offshore developments.
The company said the framework would provide the certainty required to unlock long-term capital, accelerate Final Investment Decisions (FIDs) and maximise value from Nigeria’s offshore resources.
The order is expected to support Nigeria’s ambition of increasing crude oil production to 3 million barrels per day (MMbopd) by 2030.
