Catalysing investments in the Energy Sector.
Upstream Investments
Fiscal incentives for Deep Offshore oil.
Top 3 investment destinations
Nigeria now ranks as one of the top 3 investment destinations for Deep Offshore Oil projects.
billion
Investment by Shell (JV) in the Bonga North Deep Offshore Project.
bpd
Approximate production capacity, first of its kind in over a decade.
Nigeria is now positioned to attract $30 billion+ in deep offshore investments by 2029.
Fiscal incentives for gas.
%
Profitability of Non-Associated Gas Projects in Nigeria has improved by about 30% due to the Fiscal Incentives.
million
Investment by Total Energies/NNPCL in the Ubeta Non-Associated Gas Project.
Establishment of Full fiscal terms for Deep Offshore Gas Development for the first time.
Nigeria is now positioned to attract $5 billion+ in gas investments by 2029, enhancing gas availability for export and supporting energy transition.
In 2024, Nigeria regained the top spot in Africa from Angola for Upstream Capital Expenditure!
Additionally, Nigeria secured three of the four upstream investments made in Africa in 2024.
Clean Cooking and Clean Mobility Investments
President Bola Ahmed Tinubu approved tax and duty waivers for clean energy equipment and vehicles.
million
Prospective equipment imports valued at $700 million highlight the rising investment interest in the LPG, CNG, and Electric Vehicle sectors.
Investments in Smart Metering
million
$400 million in investments has been raised from the Federal and State Governments under the Presidential Metering Initiative to support the deployment of smart meters and ancillary technologies across 36 states and 774 Local Government Areas.
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