11/08/2026
TINUBU SIGNS NEW DEEP OFFSHORE INCENTIVE ORDER TO UNLOCK $50BN INVESTMENT
President Bola Ahmed Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, aimed at unlocking up to $50 billion in deep offshore investments, beginning with the approximately $10 billion Bonga South West project.
The President said the policy will provide investors with greater certainty while creating opportunities for Nigerian engineers, fabrication yards, marine and technical service companies, and young professionals.
Tinubu said the ultimate goal is to increase oil production and government revenue, create jobs, strengthen local businesses and position Nigeria as Africa’s regional hub for deep offshore project ex*****on.