Nigeria Approves a New Deep Offshore Investment Framework, Including Tax Benefits

The Nigerian State House has announced that President Bola Ahmed Tinubu approved a new deep offshore investment framework on 11 August 2026. The reform aims to attract up to USD 50 billion in investments for Nigeria's oil and gas sector by replacing project-by-project negotiations with standardized rules, while simultaneously boosting local job creation and industrial growth. The new framework is provided through the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026.…