Close Menu
  • HOME
  • News
  • Politics
  • Sport
  • Features
  • Security
  • Foreign News
Facebook X (Twitter) Instagram
Trending
  • How I Escaped Arisekola, Adedibu’s Bullet By Whisker – Erubami
  • INEC Announces Dates for Elections.
  • Sex Hawkers: Over 73,000 Young Women in Imo State Confirmed HIV-Positive — FMC Raises Alarm
  • Ground Rent: It’s Embarrassing Senator Ireti Kingibe Is Ignorant of Land Use Act, She Needs To Stop Hating Wike – Aide
  • Democracy Day: Founder, Celica Church of Christ, Adeonigbagbe Advises Nigerians To Embrace Peace
  • Otegbade Congratulates Governor Abiodun at 65
  • Negotiate Yoruba nation exit now, Akintoye writes Tinubu
  • PRESIDENT TINUBU IS GOD’S GIFT TO NIGERIA: PRINCE ARTHUR EZE
Facebook X (Twitter) Instagram
Nigerian Alert
  • HOME
  • News
  • Politics
  • Sport
  • Features
  • Security
  • Foreign News
Nigerian Alert
Home » President Tinubu Signs Executive Order On Oil And Gas Reforms

President Tinubu Signs Executive Order On Oil And Gas Reforms

Lekan Shobo ShobowaleBy Lekan Shobo ShobowaleMarch 6, 20242 Mins Read
WhatsApp Facebook Twitter Email Telegram LinkedIn
Share
WhatsApp Facebook Twitter Email LinkedIn Telegram
Top Ads ..

President Tinubu Signs Executive Order On Oil And Gas Reforms

In keeping with his dedicated efforts to remove obstacles to investments in Nigeria, harness the nation’s resources and diversify the economy for the benefit of all Nigerians, His Excellency, President Bola Ahmed Tinubu has executed Policy Directives to improve the investment climate and position Nigeria as the preferred investment destination for the oil & gas sector in Africa.

Following extensive engagements, analyses, and benchmarking with other jurisdictions, the President has initiated the amendment of primary legislation to introduce fiscal incentives for oil & gas projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements. Recognizing the urgency to accelerate investments, the President has directed as follows:

(1) ⁠Introduction of fiscal incentives for non-associated gas, midstream and deepwater developments.

(2) ⁠Streamlining of contracting process to compress the contracting cycle to six months.

(3) ⁠The application of the local content requirements without hindering investments or the cost competitiveness.

The details of these Policy Directives will be gazetted and communicated by the Federal Ministry of Information and National Orientation.

These incentives were developed in collaboration with the Federal Ministry of Justice, Federal Ministry of Finance, Federal Ministry of Petroleum, Federal Ministry of Budget and Economic Planning, Federal Inland Revenue Service, the Nigerian National Petroleum Company Limited, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Midstream and Downstream Petroleum Regulatory Commission, and the Nigerian Content Development and Monitoring Board.

The Special Adviser to the President on Energy has been directed to continue coordinating the aforementioned stakeholders to ensure the implementation of these directives within a stipulated timeframe.

Share. WhatsApp Facebook Twitter Telegram Email LinkedIn
Previous ArticleOndo Guber: Aiyedatiwa Is The Most Qualified Candidate For APC – Ajulo
Next Article Former Akinyele Council Boss, Salami Congratulates Senator Akintunde On Birthday Anniversary

Related Posts

How I Escaped Arisekola, Adedibu’s Bullet By Whisker – Erubami

May 31, 2025

INEC Announces Dates for Elections.

May 31, 2025

Ground Rent: It’s Embarrassing Senator Ireti Kingibe Is Ignorant of Land Use Act, She Needs To Stop Hating Wike – Aide

May 30, 2025
Leave A Reply Cancel Reply

Ads
Ads
Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Contact Us
  • Privacy Policy
© 2025 Nigerian Alert. Designed by Samtech Media.

Type above and press Enter to search. Press Esc to cancel.