President Bola Tinubu has approved three new directives in the oil and gas sector to introduce fiscal incentives for related projects, reduce contracting costs and timelines, and promote cost efficiency in local content requirements.
This followed “extensive engagements, analyses, and benchmarking with other jurisdictions” a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, read Wednesday.
The statement is titled ‘President Tinubu signs executive orders on oil and gas reforms.’
According to Ngelale, Tinubu approved the “Introduction of fiscal incentives for non-associated gas, midstream and deepwater developments.
Streamlining of contracting process to compress the contracting cycle to six months.
Punch
