US EditionNigeria's Oil Sector Revolution: New Tax Incentives for Cost Efficiency
- President Bola Ahmed Tinubu signed the 2025 Executive Order introducing incentives based on cost-saving performance in upstream oil activities to improve the efficiency and competitiveness of Nigeria’s oil sector.
- The Order follows the administration's 2024 reform directives aiming to improve fiscal policies, project timelines, and local content standards for competitiveness.
- The policy caps tax credits at 20% of annual tax liabilities and rewards oil firms that demonstrate verifiable cost savings meeting industry benchmarks set by NUPRC.
- Olu Verheijen stated that the initiative aims to make Nigeria’s upstream oil and gas industry more competitive on the international stage while ensuring strong financial stability, highlighting the focus on enhancing efficiency and boosting investor trust.
- This Order aims to attract investment, increase revenues, secure jobs, and build a stronger oil and gas sector that works for all Nigerians.
22 Articles
22 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…
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