The Federal Government says it is targeting four million barrel per day (bpd) of oil production, and 10 billion cubic feet (bcf) of gas production by 2030.
The Federal Government has said that it is targeting four million barrel per day of oil production, and 10 billion cubic feet of gas production by 2030.
Verheijen said the feat would be achieved through commitment to reform agenda, and unprecedented incentives for oil and gas production unveiled by the President Bola Tinubu’s administration. “These reforms, which include three presidential directives issued in February 2024, will create tens of thousands of new jobs, improve foreign exchange earnings, stimulate tax revenues and contribute to Nigeria’s macroeconomic stability,” she saidShe said that in a major move to advance the ongoing structural reforms in the oil and gas industry, President Tinubu approved the issuance of two new sets of fiscal incentives.
The Presidential aide said the Notice of Tax Incentives was built on the directive, issued by the President in February, which provided incentives for onshore oil and gas investments,
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