Nigeria: Updates to deep offshore oil and gas projects tax incentives framework
More robust tax incentive framework for deep offshore oil and gas developments
The Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, was signed by the president on August 6, 2026, and published in the official gazette on August 10, 2026.
Building on the Notice of Tax Incentives on Deep Offshore Oil and Gas Production, 2024, the order introduces a more robust incentive framework for deep offshore oil and gas developments, including new provisions on supplementary production tax credits, profit oil reset mechanisms, project eligibility requirements, and incentive administration.
Read a September 2026 report prepared by the KPMG member firm in Nigeria