Nigeria’s New Oil Reforms To Provide Conducive Environment For Companies – Tinubu


President Bola Tinubu on Tuesday said the three Executive Orders on oil and gas reforms which he signed into law will make Nigeria’s petroleum sector globally competitive.

The President made the affirmation during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon in Abuja.

Tinubu, in a statement by his spokesman, Ajuri Ngelale, emphasised that these reforms will ensure that oil companies no longer face undue challenges in the country.

The three Executive Orders which became effective from February 28, 2024 include Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024; Presidential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines.

Tinubu also assured the ExxonMobil delegation that the Federal Government is committed to resolving the divestment issues between the company and Seplat Energy, which are currently under…

Source: Leadership Newspaper