Nigeria enacts cost efficiency tax incentives for oil and gas upstream petroleum sector
|Tax Alerts, National/Federal Taxation, O ...|Nigeria
On 29 May 2025, the Nigerian government signed the Upstream Petroleum Operations (Cost Efficiency Incentives) Order, 2025, which introduces performance-based tax incentives aimed at enhancing competitiveness in the upstream petroleum sector, effective from 30 April 2025.
The incentives apply to licensees, lessees and contractors in the upstream oil and gas sector, covering projects across all terrain types — onshore, shallow water and deep offshore.
Companies that achieve operating costs below reg…
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