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Nigeria's Oil Sector Revolution: New Tax Incentives for Cost Efficiency
- In 2025, President Bola Tinubu introduced a new executive order establishing tax limits and performance-based incentives aimed at improving cost efficiency within Nigeria's upstream oil sector.
- The Order follows prior 2024 reforms aimed at improving fiscal policies, project timelines, and local content standards to boost sector competitiveness.
- The new policy caps tax credits at 20% of annual tax liability and rewards operators showing verifiable cost savings based on terrain-specific benchmarks.
- Tinubu highlighted that the initiative aims to safeguard long-term prospects, generate employment opportunities, and maximize the value of each barrel, while his advisers underscored efforts to enhance fiscal stability and boost investor trust.
- The Order aims to enhance investment, increase revenues, and signals Nigeria's commitment to building an efficient, globally competitive upstream oil sector.
29 Articles
29 Articles
Tinubu signs Executive order to boost oil sector - Daily Trust
President Bola Ahmed Tinubu has issued a new Executive Order designed to lower project costs, attract investment, and enhance revenues from oil and gas operations. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) introduces performance-based tax incentives for upstream operators who deliver verifiable cost savings that meet defined industry benchmarks. According to a statement by Senan Murray, Office of the Special Advis…
Tinubu introduces executive order to boost oil, gas Sector
The statement noted that the new Order builds on the administration’s 2024 presidential reform directives which delivered improved fiscal terms, shortened project timelines, and aligned local content policies with global best practice. The post Tinubu introduces executive order to boost oil, gas Sector appeared first on Premium Times Nigeria.
Nigeria's Oil Sector Revolution: New Tax Incentives for Cost Efficiency
Nigeria's Oil Sector Revolution: New Tax Incentives for Cost Efficiency Nigerian President Bola Tinubu has enacted a groundbreaking executive order aimed at revolutionizing the oil sector. This new strategy links tax incentives directly to verifiable cost savings, welcoming operators who engage in cost-efficient practices.The Upstream Petroleum Operations Cost Efficiency Incentives Order 2025 offers tax relief capped at 20% of an operator’s annu…
Billion-Dollar Leap: Tinubu to Unveil Oando’s Cross-Border Energy Strategy at AEW 2025 - Newsmakers
Segun Atanda/ Cape Town, South Africa — Oando PLC’s bold expansion across Africa’s energy landscape is set to take center stage at African Energy Week (AEW) 2025, as the company’s Group Chief Executive, Jubril Adewale Tinubu, prepares to address top global investors, policymakers, and industry leaders in Cape Town this October. Coming off a transformative […] The post Billion-Dollar Leap: Tinubu to Unveil Oando’s Cross-Border Energy Strategy at …
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