In a move to further strengthen Nigeria’s global competitiveness and attract greater investment into the oil and gas sector, President Bola Ahmed Tinubu, GCFR, has signed a landmark Executive Order establishing cost efficiency incentives for upstream petroleum operations.
The Upstream Petroleum Operations Cost Efficiency Incentives Order, 2025 introduces a new performance-driven framework that links tax incentives to verifiable cost savings, benchmarks operations by terrain, and protects public revenues while rewarding operational efficiency.
“This Order is a signal to the world: we are building an oil and gas sector that is efficient, competitive, and works for all Nigerians.
“It is about securing our future, creating jobs, and making every barrel count,” said President Tinubu. (vitalnewsngr.com)
