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[BUSINESS] · Nigeria · 29 sources

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Part of situation: Nigeria advances oil, gas, and power infrastructure targets (36 clusters)

Nigeria approves deep offshore oil reform to unlock $50bn investment

deep offshore oil investment framework tax remission Nigeria petroleum sector Bonga South West

President Bola Tinubu has approved a new investment framework designed to unlock up to $50 billion in deep offshore oil and gas investments in Nigeria. The reform, implemented through the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, replaces previous project-by-project negotiations with a transparent, rules-based system to provide greater fiscal and regulatory certainty for international investors.

The framework aims to revive large-scale offshore developments that have been stalled for decades. One of the primary expected beneficiaries is the approximately $10 billion Bonga South West project. The decision follows high-level discussions between President Tinubu and Shell plc CEO Wael Sawan regarding the need to revitalize Nigeria’s deepwater investment pipeline.

A key component of the reform is the emphasis on domestic industrial capacity. Qualifying projects will be required to maximize execution within Nigeria whenever commercially and technically feasible, supporting local engineering, fabrication, marine logistics, and technical services. Additionally, the approval authorizes NNPC Limited to amend eligible Production Sharing Contracts (PSCs) to facilitate the implementation of these new incentives.

Entities

Bola Ahmed Tinubu · Bola Tinubu · Bonga South West · Federal Ministry of Livestock Development · George Akume · NNPC Limited · Nigeria · Shell plc · Wael Sawan

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Controversy As Tinubu Govt ‘Creates’ 900 New Dollar Millionaires [gwg.ng]
Tinubu Approves Framework to Unlock $50bn Deep Offshore Investment [thepodiummedia.com]
Nigéria oferece incentivos para desbloquear US$ 50 bi de investimentos em petróleo - Diário do Grande ABC [www.dgabc.com.br]
Tinubu Approves Deep Offshore Oil Reform to Attract Up to $50bn Investment [newsonlineng.com]
Tinubu Approves Framework To Unlock $50b Deep Offshore Investment [citybusinessnews.com]
Tinubu Takes Heat, States Get Funds: Tracking Increased Allocations In Benue, Nasarawa - News Agency Of Nigeria [nannews.ng]
India-Namibia Bilateral Trade Rises to USD 592. 94 Million, New Cooperation Frameworks Agreed | Maritime Gateway [www.maritimegateway.com]
Tinubu approves framework to unlock $50bn deep offshore investment [bizwatchnigeria.ng]
Tinubu Approves Offshore Reform To Unlock $50bn Investment [dmarketforces.com]
Tinubu approves landmark deep offshore investment framework to unlock $50 billion in new investment [www.nationalaccordnewspaper.com]
Revenue drive: FG approves fresh incentives for deepwater petroleum projects [championnews.com.ng]
Tinubu approves framework to unlock $50bn deep offshore investment [newmail-ng.com]
Nigéria oferece incentivos para desbloquear US$ 50 bi de investimentos em petróleo | Tribuna de Petrópolis [tribunadepetropolis.com.br]
Tinubu’s Reforms Win Investor Support As Nigerians Grapple With Rising Living Costs – PRIMA NEWS [primanews.org]
Tinubu approves deep offshore investment to unlock us$50b investment - Nigerian Current [nigeriancurrent.com]
Power minister wants swift implementation of Nigeria-China aquatic product's protocol - Blueprint Newspapers Limited [blueprint.ng]
$50bn Investment Prospect : NNPC Welcomes FG’s Deep Offshore Tax Order [newtelegraphng.com]
Tinubu Signs Nigerian Ports Economic Regulatory Agency Bill Into Law [www.nigerianeye.com]
Indians now employ almost as many people in Nigeria as the government, and trade between both countries hits $9 billion [africa.businessinsider.com]
India, Nigeria Deepen Strategic Ties, Trade Hits $9bn, Modi Invites Tinubu to BRICS Summit – THISDAYLIVE [www.thisdaylive.com]
Nigeria-India trade hits $9bn as strategic partnership expands across key sectors – Ghanamma. com [www.ghanamma.com]
Nigeria Tax Break Targets $50B Deepwater Oil Investment [zalebs.com]
Nigéria oferece incentivos para desbloquear US$ 50 bi de investimentos em petróleo | eixos [eixos.com.br]
Tinubu approves framework to attract US$50bn deep offshore investment [asaaseradio.com]
Nigéria oferece incentivos para desbloquear US$ 50 bi de investimentos em petróleo | TNOnline [tnonline.uol.com.br]
Nigeria Approves Deep-Water Oil Investment Framework [www.oedigital.com]
Refineries’ll work again, Tinubu assures petroleum workers [punchng.com]
Falling inflation is not the same as falling prices - Businessday NG [businessday.ng]
Tinubu approves deep offshore reform targeting $50 billion investment in Nigeria’s oil sector [nairametrics.com]