President Bola Ahmed Tinubu has approved a landmark reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to US$50 billion in deep offshore investment and restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades. According to Onanuga, the objective is to strengthen Nigeria’s competitiveness for globally mobile investment capital, beginning with the US$10 billion Bonga South West project. Rather than pursuing project-specific solutions, the Federal Government transformed that directive into a comprehensive investment framework applicable across multiple categories of qualifying developments.” “The objective is not only to increase investment and production, but also to create skilled jobs, deepen local supply chains and position Nigeria as Africa’s regional hub for deep offshore project execution.” This reform reflects our determination to build an investment environment defined by clear rules, strong institutions and enduring partnerships.