NNPC: I've Accepted Assets, Liability, Refinery Will Work - Tinubu Assures
Tinubu said he accepted inherited oil-sector liabilities and promised the refineries will return to work, while stressing profitability over mere operation.
- On Tuesday, President Bola Tinubu signed the Deep Offshore Oil and Gas Projects Incentives Order, 2026, establishing a fiscal framework expected to unlock up to $50 billion in deep offshore investments.
- This policy aims to make previously stalled offshore projects commercially viable, beginning with the approximately $10 billion Bonga South West project, by providing tax incentives and fiscal clarity.
- Nigerian National Petroleum Company Limited Group Chief Executive Officer Bashir Bayo Ojulari described the order as a transformative reform supporting Nigeria's ambition of increasing crude oil production to 3 million barrels per day by 2030.
- The order aims to accelerate Final Investment Decisions on strategic developments including Zabazaba and Owowo Deep Offshore projects, reinforcing Nigeria's competitive energy environment.
- Recent reforms across Nigeria's petroleum sector have already stimulated more than $34 billion in new investment commitments, and this measure reinforces NNPC's strategy of protecting existing production while attracting new high-value assets.
20 Articles
20 Articles
Refineries will work again – Tinubu
President Bola Ahmed Tinubu has assured petroleum workers that Nigeria’s refineries, which have remained largely inactive for several years, will resume operations. The president gave the assurance on Thursday when he received the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) at the Presidential Villa, Abuja. Responding to concerns raised by the union, Tinubu said the mere presence of flames or smoke at a refinery…
Deep offshore incentive order will accelerate investment, production growth
NNPC said the new order establishes a transparent, predictable, and globally competitive fiscal framework for qualifying greenfield deep offshore developments. The post Deep offshore incentive order will accelerate investment, production growth — NNPC appeared first on Premium Times Nigeria.
Tinubu vows to revive govt refineries, expand CNG initiative
President Bola Tinubu has assured Nigerians that government-owned refineries will return to operation after ongoing reforms aimed at making them commercially viable and sustainable. The post Tinubu vows to revive govt refineries, expand CNG initiative appeared first on Vanguard News.
Refineries’ll work again, Tinubu assures petroleum workers
President Tinubu assures NUPENG that Nigeria’s moribund refineries will be revived, emphasizing productivity and profitability. He also discusses CNG benef Read More: https://punchng.com/refineriesll-work-again-tinubu-assures-petroleum-workers/
NNPC: I've accepted assets, liability, refinery will work - Tinubu assures
President Bola Tinubu has said that the Nigerian National Petroleum Company, NNPC, refinery will come back to work. President Tinubu made this assertion on Thursday during a meeting with the leadership of the Nigerian Union of Petroleum and Natural Gas Workers, NUPENG, at the Presidential Villa, Abuja. He stressed that the operational strength of the refinery alone is […] NNPC: I’ve accepted assets, liability, refinery will work – Tinubu assures
President Tinubu’s Refinery Reset Will Deliver Sustainable Value — Arodiogbu
The National Vice Chairman of the All Progressives Congress (APC), South-East, Ijeomah Arodiogbu, has commended President Bola Ahmed Tinubu for his commitment to restoring Nigeria’s refineries to sustainable and profitable operations. Arodiogbu reacted to President Tinubu’s remarks during a visit by the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), where he assured that the nation’s refineries would return to wor…
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