President Bola Tinubu approves a new deep offshore investment framework targeting up to $50 billion in fresh investment for Nigeria’s oil sector. Photo credit: Asiwaju Bola Ahmed TinubuSource: FacebookWhat does the deep offshore reform cover? The policy, given legal effect through the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, is designed to apply across multiple categories of qualifying developments rather than being tailored to individual projects. The decision follows President Tinubu's earlier engagement with Shell plc Chief Executive Wael Sawan, during which the President directed officials to develop broader measures for unlocking Nigeria's offshore investment pipeline. Speaking on the reform, President Tinubu said:"The countries that attract long-term investment are not necessarily those with the greatest natural resources.