President Bola Tinubu has issued a new Executive Order to lower project costs, attract more investors, and enhance revenues from operations in the oil sector.

The document, which was made public by the office of the Special Adviser to the President on Energy, Olu Verheijen, noted that the move is to further strengthen Nigeria’s global competitiveness and attract greater investment into the sector.

The Upstream Petroleum Operations Cost Efficiency Incentives Order, 2025, introduces a new performance-driven framework that links tax incentives to verifiable cost savings, benchmarks operations by terrain, and protects public revenues while rewarding operational efficiency.

President Tinubu directed the Special Adviser on Energy to coordinate inter-agency efforts to ensure alignment and implementation across all relevant institutions. Key provisions of the Order include performance-based tax incentives, terrain-specific benchmarks, and credit caps for fiscal discipline.

Verheijen explained that the initiative is a deliberate strategy to position Nigeria’s upstream sector as globally competitive and fiscally resilient. It is also a medium designed to reward efficiency, strengthen investor confidence, and ultimately deliver greater value to the Nigerian people.