Close Menu
    Facebook X (Twitter) Instagram YouTube
    Advertise with us Friday, June 6
    Facebook X (Twitter) Instagram
    Platform TimesPlatform Times
    VIDEOS
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Platform TimesPlatform Times
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Home»News

    Tinubu signs Executive order to boost oil sector

    adminBy adminMay 31, 2025 News No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    President Bola Ahmed Tinubu has issued a new Executive Order designed to lower project costs, attract investment, and enhance revenues from oil and gas operations.

    The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) introduces performance-based tax incentives for upstream operators who deliver verifiable cost savings that meet defined industry benchmarks.

    According to a statement by Senan Murray, Office of the Special Adviser to the President on Energy, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) “will publish these benchmarks annually according to terrain—onshore, shallow water, and deep offshore. Additionally, detailed implementation guidelines for the new Order will be issued in due course.”

    SPONSOR AD




    Among other provisions, the “Order returns to investors 50% of incremental government gain resulting from cost savings, and also caps available tax credits at 20% of a company’s annual tax liability—protecting government revenues while still offering strong fiscal terms to incentivize efficient operators.

    “Nigeria must attract investment inflows, not out of charity, but because investors are convinced of real and enduring value. This Order is a signal to the world: we are building an oil and gas sector that is efficient, competitive, and works for all Nigerians. It is about securing our future, creating jobs, and making every barrel count,” the President said.

    To ensure effective implementation of the new Order, the President has tasked the Special Adviser on Energy to lead inter-agency coordination, ensuring alignment across key government institutions and translating policy intent into measurable outcomes.

    “This is not a pursuit of cost reduction for its own sake. It is a deliberate strategy to position Nigeria’s upstream sector as globally competitive and fiscally resilient,” said Mrs. Olu Verheijen, Special Adviser to the President on Energy.

    “With this reform, we are rewarding efficiency, strengthening investor confidence, and ultimately delivering greater value to the Nigerian people.”

    The new Order builds on the administration’s 2024 presidential reform directives which delivered improved fiscal terms, shortened project timelines, and aligned local content policies with global best practice.




    Pelican Valley'
    Cattle Bizness Network'
    The Rehla'
    Pelican Valley'

    Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com

    We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE

    Pelican Valley
    admin
    • Website

    Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

    Keep Reading

    MAPALUM Celebrates Eid, Calls Alumni To Lead With Compassion

    Eid el-Adha: Ogun Imams Call For National Unity, Prayers,Sacrifice

    Musk To Trump: Without Me, You Wouldn’t Have Been President

    Victims’ Families Protest As Niger Gov Pardons Convicted Murderers

    Nigerian pilgrim dies in Arafat 

    Northern govs mourn Prof Jibril Aminu

    Add A Comment

    Comments are closed.

    The Rehla
    The Rehla
    The Rehla
    Pelican Valley
    Pelican Valley
    Pelican Valley
    Advertisement
    Advertisement
    Advertisement
    Advertisement
    Cattle Bizness Network
    Cattle Bizness Network
    Cattle Bizness Network
    Pelican Valley
    Pelican Valley
    Pelican Valley

    Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube
    • About Us
    • Advertise
    • Contact Us
    • Disclaimer
    • Download Platform Times app

    Subscribe to Updates

    Get the latest update news

    Facebook X (Twitter) Instagram Pinterest
    • About Us
    • Advertise
    • Contact Us
    • Disclaimer
    • Download Platform Times app
    © 2025, All Rights Reserved | Platform Times Newspaper | Powered By CyberWarrior

    Type above and press Enter to search. Press Esc to cancel.