Nigeria’s New Tax Incentives Boost Oil and Gas Investment, Says African Energy Chamber
Image Credit: leadershipPresident Bola Tinubu’s latest executive order, the Upstream Petroleum Operations Cost Efficiency Incentives Order (2025), aims to lower costs and boost revenue from Nigeria’s oil and gas projects through performance-based tax incentives.
The African Energy Chamber (AEC) praises the move, highlighting its role in attracting new investments and improving the business climate in Nigeria’s upstream oil sector.
Significant investments are already underway, with ExxonMobil, TotalEnergies, and consortia planning multi-billion dollar projects, bolstered by these favorable fiscal policies.
Nigeria aims to unlock $30 billion in oil and $5 billion in gas investments by 2029, with the executive order playing a crucial role in achieving this growth.
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