President Bola Ahmed Tinubu has just signed a series of executive orders aimed at revitalizing Nigeria’s oil and gas industry, a move set to streamline operations and attract crucial investments.

The announcement was made by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, who highlighted the key directives contained in the executive orders.

These include the introduction of fiscal incentives for non-associated gas, midstream, and deepwater developments, along with the streamlining of contracting processes to compress the cycle to just six months.

In a statement, Ngelale emphasized that President Tinubu’s actions are part of his commitment to removing obstacles to investments, maximizing Nigeria’s resources, and diversifying the economy for the benefit of all Nigerians.

The directives were developed after extensive consultations, analyses, and benchmarking with other jurisdictions, with a focus on reducing contracting costs and timelines while promoting cost efficiency in local content requirements.

These reforms, developed in collaboration with various government ministries, regulatory bodies, and industry stakeholders, signify a significant step forward for be Nigeria’s oil and gas sector.

Stay tuned as further details of these executive orders are gazetted and communicated by the Federal Ministry of Information and National Orientation, with the Special Adviser to the President on Energy tasked with ensuring their swift and effective implementation within a stipulated timeframe.