Why Tinubu signed deep offshore incentives order – NNPCL boss, Ojulari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has explained why President Bola Ahmed Tinubu signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026. In a statement through the NNPCL spokesperson, Andy Odey, on Thursday, Ojulari said the move would send a strong signal to […] Why Tinubu signed deep offshore…
Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has provided insight into President Bola Ahmed Tinubu's decision to sign the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026. In an official statement, Ojulari emphasized that this move would demonstrate Nigeria's commitment to offering a stable and competitive environment for deep offshore oil and gas developments.
He stated that the presidential order would provide fiscal certainty for such investments, which is a crucial factor in attracting global investors. Ojulari noted that this ninth presidential order aligns with NNPCL's mandate to safeguard the production base and supports Nigeria's objective of achieving three million barrels of oil per day (MMbopd) by 2030.
He described this as a transformative reform, signaling to global investors that Nigeria is dedicated to providing a stable, competitive, and investment-friendly atmosphere for deep offshore developments. Additionally, the order unlocks $50 million in new investment potentials for deep offshore projects.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
