PRESIDENT TINUBU APPROVES LANDMARK DEEP OFFSHORE INVESTMENT FRAMEWORK TO UNLOCK UP TO 50 BILLION DOLLARS

President Bola Ahmed Tinubu has approved a landmark investment framework for Nigeria’s deep offshore oil and gas sector, aimed at attracting up to $50 billion in new investment and reviving stalled offshore projects.

The new framework replaces the previous project-by-project negotiation approach with a more transparent and predictable investment regime designed to provide investors with greater certainty.  

The reform is expected to accelerate the development of Nigeria’s deepwater resources, boost oil and gas production, attract foreign capital and strengthen the country’s position as a competitive destination for energy investment.

The initiative builds on the administration’s broader efforts to restore investor confidence in the petroleum sector through regulatory and fiscal reforms. Earlier in 2026, the Federal Government also approved targeted incentives for the Bonga Southwest Aparo deepwater project, estimated to attract about $20 billion in investment.  

The Presidency said the latest framework is expected to unlock significant economic opportunities, including increased foreign exchange inflows, job creation and greater activity across Nigeria’s oil and gas value chain.  

State House official announcement⁠