President Bola Tinubu has approved a new investment framework for Nigeria’s deep offshore oil and gas sector, a reform the presidency says could unlock up to $50 billion in fresh investment and revive large-scale offshore projects that have been stalled for decades. Rather than crafting a solution for a single project, the Federal Government opted to build a broader framework covering the sector. “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.” President Tinubu commended the agencies and stakeholders involved, saying their collaboration, technical expertise and commitment had helped shape the framework. “This reform reflects our determination to build an investment environment defined by clear rules, strong institutions and enduring partnerships.