Oil & Gas Sector Reforms.
Presidential directives for Oil & Gas sector reforms.
The Office of the Special Adviser to the President on Energy developed five (5) Presidential Directives and two (2) Policy Directives to improve the attractiveness and competitiveness for capital allocation to Nigeria’s Oil & Gas projects in an increasingly competitive market.
Read the full directives
Provides Clarity on the Regulatory Oversight between the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Introduced tax incentives for onshore and shallow water non associated gas (NAG) and for deep offshore oil and gas investments.
Introduced reforms to reduce contracting costs and shorten project execution timelines.
Addressed the high-cost premium of operations in Nigeria while promoting genuine local capacity development.
Introduced fiscal incentives to stimulate investments in deep offshore oil and gas production.
Introduces Value Added Tax and Customs Duty Waivers on Liquified Petroleum Gas, Compressed Natural Gas, and Electric Vehicles, and other associated equipment.
Introduces additional VAT waivers for Liquified Natural Gas Equipment and Clean Cooking Technologies.
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