Nigerian govt targets $10bn investment in oil & gas sector

Nigerian Government aims to attract about $10 billion worth of investment by signing the consolidated guidelines for implementing Fiscal Incentives for the Oil & Gas Sector. A statement on Tuesday by the Ministry of Finance explained that the guidelines, a cornerstone of the Presidential Directives, are aimed at enhancing the Nigerian oil & gas sector's global competitiveness whilst stimulating economic growth.

'These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involve several key regulatory bodies, including the Federal Inland Revenue Service, the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority,' part of the statement read.

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