President Bola Ahmed Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, a policy aimed at attracting up to $50 billion in investment into Nigeria’s deep offshore oil and gas sector. Tinubu disclosed this in a statement on X on Tuesday, saying the new framework was designed to provide investors with clearer and more predictable terms for major deep offshore projects. Tinubu said the measure was necessary to position Nigeria to compete more effectively for long-term capital, noting that the country could no longer afford to leave its offshore oil and gas resources undeveloped. “This Order marks the tenth major policy directive of my administration targeted specifically at the oil and gas sector. Tinubu said the policy was also intended to strengthen Nigeria’s position as a regional centre for deep offshore project development and execution.