{"id":112415,"date":"2024-03-06T20:30:56","date_gmt":"2024-03-06T19:30:56","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector"},"modified":"2024-03-06T22:47:35","modified_gmt":"2024-03-06T21:47:35","slug":"tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector","title":{"rendered":"Tinubu signs Executive Orders to boost investment in oil, gas sector"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>President Bola Tinubu has signed a number of executive orders meant to streamline and strengthen the nations oil and gas industry.<\/p>\n<p>Specifically he has ordered the \u2060introduction of fiscal incentives for non-associated gas, midstream and deepwater developments, including streamlining of contracting process to compress the contracting cycle to six months.<\/p>\n<p>Also signed on Wednesday was the application of the local content requirements without hindering investments or the cost competitiveness.<\/p>\n<p>A statement by Ajuri Ngelale, Tinubu\u2019s Special Adviser on Media and Publicity, noted that the policy directives is meant to improve the investment climate and position Nigeria as the preferred investment destination for the oil &amp; gas sector in Africa.<\/p>\n<p>Tinubu also noted that it was in keeping with his dedicated efforts to remove obstacles to investments in Nigeria, harness the nation\u2019s resources and diversify the economy for the benefit of all Nigerians.<\/p>\n<p>\u201cFollowing extensive engagements, analyses, and benchmarking with other jurisdictions, the President has initiated the amendment of primary legislation to introduce fiscal incentives for oil and gas projects.<\/p>\n<p>\u201cReduce contracting costs and timelines, and promote cost efficiency in local content requirements. Recognizing the urgency to accelerate investments.<\/p>\n<p>\u201cThe details of these Policy Directives will be gazetted and communicated by the Federal Ministry of Information and National Orientation.<\/p>\n<p>\u201cThese incentives were developed in collaboration with the Federal Ministry of Justice, Federal Ministry of Finance, Federal Ministry of Petroleum, Federal Ministry of Budget and Economic Planning, Federal Inland Revenue Service, the Nigerian National Petroleum Company Limited, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Midstream and Downstream Petroleum Regulatory Commission, and the Nigerian Content Development and Monitoring Board.<\/p>\n<p>\u201cThe Special Adviser to the President on Energy has been directed to continue coordinating the aforementioned stakeholders to ensure the implementation of these directives within a stipulated timeframe,\u201d Ajuri noted in the statement.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. President Bola Tinubu has signed a number of executive orders meant to streamline and strengthen the nations oil and gas industry. Specifically he has ordered the \u2060introduction of fiscal incentives for non-associated gas, midstream and deepwater developments, including streamlining of contracting process to compress the contracting cycle to six months. Also signed [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":112414,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,945],"class_list":["post-112415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tinubu signs Executive Orders to boost investment in oil, gas sector - Nigeria<\/title>\n<meta name=\"description\" content=\"President Bola Tinubu has signed a number of executive orders meant to streamline and strengthen the nations oil and gas ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu signs Executive Orders to boost investment in oil, gas sector\" \/>\n<meta property=\"og:description\" content=\"President Bola Tinubu has signed a number of executive orders meant to streamline and strengthen the nations oil and gas ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-06T19:30:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-06T21:47:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/03\/sm_1709745150.610472.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tinubu signs Executive Orders to boost investment in oil, gas sector\",\"datePublished\":\"2024-03-06T19:30:56+00:00\",\"dateModified\":\"2024-03-06T21:47:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/03\/sm_1709745150.610472.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-signs-executive-orders-to-boost-investment-in-oil-gas-sector\",\"name\":\"Tinubu signs Executive Orders to boost investment in oil, gas sector - 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