Nigerian indigenous oil companies are making multi-billion dollar investments to develop divested onshore and shallow water assets, leading a new phase of growth and innovation in the oil and gas sector

President Bola 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. In a statement, the Special Adviser to the President on …

Nigeria’s Communications and Digital Economy sector has witnessed massive growth under President Bola Ahmed Tinubu, attracting $191 million in foreign direct investment (FDI) in Q1 2024 — a ninefold increase from $22 million in Q1 2023. The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, disclosed this during an interview for an upcoming State House documentary marking President …

The 4th joint meeting of ECOWAS ministers of trade and industry has concluded with a strong call for economic diversification, industrial growth and regional collaboration. The Minister of Industry, Trade and Investment, Jumoke Oduwole, at the meeting on Friday in Abuja, said that the collaboration was to address the evolving global trade landscape. The meeting welcomed representatives from 11 ECOWAS …

Governor Chukwuma Soludo of Anambra State has called on the Igbo community in Lagos to prioritise the development of their homeland by establishing business hubs and boom towns that will attract foreign capital and stimulate economic growth in the eastern region. Speaking at the “Anambra Homeland Consciousness Initiative” event held in Lagos over the weekend, Governor Soludo emphasized the need …

The tax reform policies will attract local and foreign investments, President Bola Ahmed Tinubu assured yesterday. He said the reforms are fashioned to simplify tax regulations, offer incentives and ensure a more transparent and predictable fiscal framework. They are tailored to phase out barriers to entry and support business growth, he said. President Tinubu, represented by Minister of State for …

Nigeria is home to a growing number of financially empowered women who are breaking barriers in entrepreneurship, leadership, and wealth creation. However, despite the increasing awareness of financial literacy, many women still focus on traditional investment options like real estate, fixed deposits, and retail businesses, often overlooking high-growth opportunities that can generate significant wealth. With rising inflation, economic uncertainties, and …

A significant shift is taking place in Nigeria’s upstream oil and gas sector where indigenous energy companies are increasingly entering the field and positioning themselves to compete on a larger scale. Local Oil Companies (LOCs) are acquiring assets divested by International Oil Companies (IOCs) while emerging firms are successfully securing blocs in marginal fields and shallow waters. The past year …

The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, has stated that Nigerian ports can only stay competitive by redoubling their investments. In a statement on Thursday, Dantsoho disclosed this when he undertook an operational and investment tour of the Onne and Rivers Port Complexes. This move according to Dantsoho, was in continuation of his resolve to galvanize …

President Bola Tinubu has stated that his administration’s renewed focus in driving international and local investments into livestock sector of the agricultural value-chain will end the crisis of farmer-herder clashes, eradicate hunger and poverty in Nigeria as well as promote economic prosperity. President Tinubu said this Thursday in Rio de Janeiro , Brazil at the signing of a Letter of …