By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Independent News ExpressIndependent News Express
  • Home
  • International
    InternationalShow More
    United Nations
    4th International Conference On Financing For Development Delivers Renewed Hope And Action For Sustainable Development
    2 months ago
    The African Development Bank and the United Nations Human Settlements Programme (UN-Habitat) scale up drive for sustainable urbanization in Africa
    AfDB, UN-Habitat Scale Up Drive For Sustainable Urbanisation In Africa
    2 months ago
    UN
    North Africa: Green Climate Fund Approves Record $300m For FAO-designed Projects In Papua New Guinea, Saint Lucia, The Sahel
    2 months ago
    UNICEF
    How Wars Across Middle East, North Africa Affecting Children – UNICEF
    2 months ago
    UNDP
    UN Development Programme Welcomes Historic Deal On Sustainable Development Even Amidst Global Turmoil
    2 months ago
  • Africa
    Africa
    Show More
    Top News
    Human Rights Watch Kicks Over 10-Year Jail Term Giving Burundian Journalist
    3 years ago
    Democracy In Africa In Crisis, Afrobarometer Warns
    2 years ago
    Hopesalive Initiative for Africa
    Queen Temitope Enitan-Ogunwusi Receives African Award In Ethiopia
    2 years ago
    Latest News
    New AfDB President Set Youth Target In 100 Days, To Prioritise Reforms, Partnerships
    5 days ago
    Bank Video on President Adesina’s Gender Advocacy Wins Two International Awards
    1 week ago
    Ghana President Mahama Calms Nigerians’ Fears: No Mass Deportations
    1 month ago
    At Gender Statistics Forum, African Leaders Urge Renewed Commitment To Quality Gender Data
    2 months ago
  • Corporate News
    • Media Outreach
  • Politics
    Politics
    Show More
    Top News
    Peter Obi’s Big Win In Lagos Set Social Media On ‘Fire’
    3 years ago
    Tayo Ayinde, A Leading Choice For Nigerian President-Elect’s Chief Of Staff
    2 years ago
    15th BRICS Summit
    Timi Frank Blasts Shettima For Gloating Over Predetermined Tribunal Judgement
    2 years ago
    Latest News
    NSC Chairman To Engage With Youth And Sports Stakeholders At The Nest Centre
    3 weeks ago
    Edo District Bye-election: SDP Candidate, Hon. Isidahomhen Promises To Pursue Best Interest Of Esanland 
    4 weeks ago
    PHOTOS: Vinod Obasa Takes Oath Of Office
    1 month ago
    Gov Adeleke’s Outburst Against Aregbesola Shows Sign Of A Drowning Man – ADC Group
    2 months ago
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
    News
    Show More
    Top News
    Pa Abdulfatah Amoo Ayanwale
    Pa Ayanwale Dies At 76, Fidau Prayers Holds 8 August
    2 years ago
    Ondo Governor, Akeredolu Begins Construction Of First Flyover In Akure
    2 years ago
    Celebration Of Life: Reverend Adewumi Jegede Of Later House Of God Assembly Buried Amid Pomp
    1 year ago
    Latest News
    Unlock Your Potential: NEXIM MD Inspires Nigerian Youth To Pursue Their Passions, Highlighting Opportunities In Non-oil Value Chains
    5 days ago
    Gov Okpebholo Rescues Over 10 Accident Victims On Benin–Auchi Highway
    1 week ago
    Lagos SWAN Chairman, Oladunni, Elected into Fellowship of the Institute of Security Nigeria
    2 weeks ago
    Entrepreneurship, Mentorship, And Scholarship Are Gains Of FUTO Alumni Homecoming 2025
    2 weeks ago
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
    Entertainment
    Show More
    Top News
    Nigeria’s Glo(W)Ing Entertainment Industry: 19 Years Of Strategic Partnership
    3 years ago
    2023 Polls: Stay Tuned To These Channels On GOtv For Breaking News And Analysis 
    3 years ago
    Family, Friends Celebrate As Princess Zara Raji Turns Two
    2 years ago
    Latest News
    Hello Mr Right Naija Season 3: Love, Drama And Surprises Await This September!
    3 days ago
    BBNaija Season 10: Faith Bags Most Influential Housemate, Snatches Head of House from Sultana in Week 6
    6 days ago
    Huzzainat Adebayo (Huzzy Mama) Speaks About Her Career In Nollywood
    1 week ago
    Story Of A Greener Future: MultiChoice’s Journey To Renewable Energy And A 20% Carbon-emission Cut By 2028
    2 weeks ago
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
    Lifestyle
    Show More
    Top News
    Sanwo-Olu Receives TAMPAN Award
    7 months ago
    Lagos Ministry Of Tourism Engages Stakeholders In Creative Industry
    2 years ago
    Lagos SWAN Joins UN To Celebrate World Nutrition Month At Unilag Confab
    Lagos SWAN Joins UN To Celebrate World Nutrition Month At Unilag Confab
    3 months ago
    Latest News
    Preserving African Culture: Polaris Bank , Chivita, And Danone Support CIKDAS’ Youth Literary Initiative
    21 hours ago
    Nigeria, Switzerland Takes Major Steps Towards Repatriation Of Artifacts And Cultural Cooperation
    1 week ago
    Archbishop Ugorji Hails St. Helen’s Choir As One of the Best Choirs in Owerri Archdiocese
    1 week ago
    Lagos Tourism Ministry Visits Heritage Sites For Inventory, Documentation
    2 weeks ago
  • Business
    • Banking & Finance
    • Oil & Gas
    BusinessShow More
    Intra-African Trade Fair
    Nigeria To Host Intra-African Trade Fair In 2027
    29 minutes ago
    Bank of Agriculture
    How Nigeria-Brazil Pact Will Boost Agricultural Investment, Food Security – BOA
    6 days ago
    Nexim Bank Boss To Engage Young Nigerians With Non-oil Export Opportunities For Wealth Creation At Breakfast Session
    2 weeks ago
    ₦46B in pre-launch transactions.
    After ₦46B Pre-launch Transactions, Fidelity Bank Unveils PAPSS In Nigeria
    3 weeks ago
    Opay In Trouble, Caught In Alleged Fraud Allegations And Legal Controversies Between January To July 2025
    1 month ago
  • Health
    Health
    Show More
    Top News
    WHO
    WHO Gives Nigerian Laboratory Full Accreditation To Fight Measles And Rubella
    3 years ago
    European Union Allocates N75m To Prevent Spread Of Diphtheria In Nigeria
    2 years ago
    US Govt Must Heed Lessons Of PEPFAR – AIDS Society Warns
    2 years ago
    Latest News
    Jubilation In Ebonyi As FG, State Govt Activate MAMII To Safe Pregnant Women And Babies
    1 day ago
    Abakaliki Agog As MAMII Train Enters Ebonyi State
    4 days ago
    LASU Professor Wins Distinguished Meritorious Obstetrics and Gynecological ICON Award
    4 days ago
    At AIDS Council Meeting, Lagos First Lady Urges Bold, Sustainable Action for Nigeria’s HIV Response
    1 month ago
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Reading: Investment Opportunities: Nigeria’s Latest Policy Reforms, Fiscal Incentives to Take Center Stage at African Energy Week 2024
Share
Notification Show More
Aa
Independent News ExpressIndependent News Express
Aa
  • Home
  • International
  • Africa
  • Corporate News
  • Politics
  • News
  • Entertainment
  • Lifestyle
  • Business
  • Health
  • More
Search
  • Home
  • International
  • Africa
  • Corporate News
    • Media Outreach
  • Politics
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
  • Business
    • Banking & Finance
    • Oil & Gas
  • Health
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Independent News Express > Blog > Business > Investment Opportunities: Nigeria’s Latest Policy Reforms, Fiscal Incentives to Take Center Stage at African Energy Week 2024
BusinessOil & Gas

Investment Opportunities: Nigeria’s Latest Policy Reforms, Fiscal Incentives to Take Center Stage at African Energy Week 2024

Last updated: 2024/08/30 at 6:37 PM
1 year ago
Share
African Energy Week
SHARE

Targeting $10 billion in oil and gas investments in the next 12-18 months, Nigeria has implemented a slate of reforms aimed at creating a more favorable investment climate and improved governance within the sector.

At the upcoming African Energy Week: Invest in African Energy 2024 conference and exhibition, an Invest in Nigeria Energies roundtable will outline the ample opportunities for investors and project developers to grow the energy value chain of Africa’s largest crude oil producer, highlighting the latest policy directives, consolidated fiscal incentives and gas utilization investment allowances.

The session places Nigerian policymakers in conversation with industry regulators and associations, exploring the latest policies, regulations and investment opportunities currently shaping the market. The discussion will be led by Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil); Abdulrazaq Isa, Chairman of the Independent Petroleum Producers Group of Nigeria; and Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The discussion will feature representatives from IOCS including ExxonMobil and Chevron.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

- Advertisement -
Ad imageAd image

Nigeria’s Federal Government introduced several policies earlier this year – in addition to the ongoing implementation of the Petroleum Industry Act – to reinvigorate the country’s energy sector and retain its position as a regional powerhouse. New measures aim to deliver a competitive Internal Rate of Return for oil and gas projects and attract over $10 billion in new investments within the next 12-18 months. For new exploration, this includes streamlining contracting procedures by raising approval thresholds for PSCs and JOAs to not less than $10 million, simplifying processes and extending the duration of third-party contracts from three to five years. This serves to reduce project contracting cycles, leading to faster oil and gas production and supporting Nigeria’s long-term oil production target of 4 million barrels per day.

Nigeria is also targeting new investments in gas monetization, refining and infrastructure expansion, with a view to boosting gas supplies, raising power access and supporting industrialization. Gas-focused reforms include tax credits for non-associated gas projects and a 25% tax dedication for qualifying plant and equipment used in gas utilization projects, which have directly triggered new investments. In June 2024, TotalEnergies and the Nigerian National Petroleum Corporation reached a $550 million FID for the development of the Ubeta gas field. Gas from the field will be supplied to the Nigeria LNG liquefaction plant, with first production anticipated for 2027, and supports the country’s transition toward low-cost and low-emission projects.

In the downstream industry, Nigeria has been in the process of deregulating the sector, improving fuel availability and affordability, eliminating government subsidies and improving efficiencies. The long-awaited Dangote Refinery began operations in late-2023, transforming Nigeria into a net exporter of refined petroleum products to Europe, Asia and Africa. With a capacity of 650,000 barrels per day, the refinery is Africa’s largest and its operational success is crucial for stabilizing domestic fuel prices, reducing import dependency and increasing foreign exchange earnings. Looking ahead, Nigeria’s policy reforms are translating to new investment opportunities in developing domestic refining capacity, petrochemical complexes and distribution infrastructure, as well as natural gas processing and storage facilities as part of the country’s gas monetization drive.

You Might Also Like

Nigeria To Host Intra-African Trade Fair In 2027

How Nigeria-Brazil Pact Will Boost Agricultural Investment, Food Security – BOA

Nexim Bank Boss To Engage Young Nigerians With Non-oil Export Opportunities For Wealth Creation At Breakfast Session

Stakeholders Seek Collaboration With ECOWAS To Protect Oil & Gas Host Communities

After ₦46B Pre-launch Transactions, Fidelity Bank Unveils PAPSS In Nigeria

TAGGED: African Energy Week
INadminNG August 30, 2024 August 30, 2024
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Print
Previous Article VIDEO: Sanwo-Olu Pushing Team Lagos Youngsters To Excellence With Unprecedented Support At NYG Zonal Contest In Osogbo
Next Article Lagos Int’l Badminton Classic: Power Shortage Disrupts Semifinal Women Doubles Clash
about us

Independent News Express (iNews Express), a publication of 4Ds Nigeria Limited, is birthed out of the desires of the founding fathers to report News as it is.

We value Professionalism, Excellence, Service, Creativity and Integrity.

The Company

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy

Quick Links

  • Advertise with us
  • Newsletters
  • Deal

Categories

Find Us on Socials

© Independent News Express. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?