By Lizzy ChirkpiPresident Bola Ahmed Tinubu has approved a new investment framework designed to unlock up to US$50 billion in deep offshore investments and revive major oil and gas projects that have remained stalled for years. The revival of major offshore developments could increase crude oil production and stimulate activity across the petroleum value chain. Focus on Nigerian ContentThe reform places significant emphasis on Nigerian participation in the execution of offshore projects. This is particularly significant for deep offshore projects, which require substantial upfront capital and long-term investment commitments. It could also help reposition Nigeria as a major destination for deep offshore investment in Africa and strengthen the country’s position in the global competition for upstream capital.