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Nigeria Issues Upstream Executive Order, Prioritizing High Returns for Oil & Gas Operators

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Oil

The executive order introduces performance-based tax incentives for upstream operators

JOHANNESBURG, South Africa, June 2, 2025/APO Group/ –Nigerian President Bola Ahmed Tinubu has signed an executive order designed to lower costs and enhance revenue from oil and gas projects. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) introduces performance-based tax incentives for upstream operators and is expected to play an instrumental role in attracting investment, driving development and unlocking greater value from the country’s oil and gas resources.

As the voice of the African energy sector, the African Energy Chamber (AEC) commends the Nigerian government’s continued commitment to not only improving the operating climate for oil and gas firms, but strengthening the competitiveness of doing business in Nigeria. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) is an intentional strategy to transform the country, and with this reform, Nigeria is well-positioned to attract fresh investment across its upstream oil and gas sector – reaffirming the country’s position as one of Africa’s top producers.

The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) positions the country as a globally competitive hydrocarbon market

The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) will feature incentives for operators who deliver verifiable cost savings that meet defined industry benchmarks. The country’s upstream regulator the Nigerian Upstream Petroleum Regulatory Commission will publish the requisite benchmarks on an annual basis and according to asset type. Benchmarks will cover a variety of assets including onshore, shallow-water and deep-water. In addition, the executive order will cap available tax credits at 20% of a company’s annual tax liability, thereby protecting the government’s revenues as well as fiscal competitiveness. Nigeria’s Special Advisor to President Tinubu on Energy Olu Verheijen will spearhead inter-agency coordination, ensuring operators maximize the opportunities presented through the executive order.

The executive order could not come at a better time for Nigeria. Targeting two million barrels per day (bpd) in oil production and 12 billion standard cubic feet per day (bscf/d) in gas production – up from the current 7.3 bscf/d – Nigeria requires significant levels of investment in both active fields and exploration blocks. While the country has long-faced investment decline owing to a variety of factors – including regulatory uncertainty and shifts in global spending – recent reforms promise to turn this trend around. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) follows the implementation of the Petroleum Industry Act (PIA) in 2021, which sought to address industry challenges by providing a comprehensive framework for the country’s oil and gas landscape. With both policies, Nigeria is expected to accelerate investment in exploration and production.

The impact of the PIA has already been felt across the country, with energy companies – from majors to independents to the national oil company (NOC – making sizable investments. Renaissance Africa Energy – a consortium of independents – is planning $15 billion in spending across 32 oil and projects; ExxonMobil is investing $1.5 billion to revitalize the Usan deepwater oilfield at OML 138; while TotalEnergies and the Nigerian National Petroleum Company is investing $550 million in a non-association gas project. ExxonMobil’s Usan field plans to make a final investment decision Q3, 2025. In 2024, the country secured $6.7 billion in investments, with $5.5 billion of this directed towards oil and gas asset acquisitions. Looking ahead, both the PIA (2021) and Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) are expected to entice greater spending across the market, providing operators with strong fiscals that prioritize high returns. By 2029, Nigeria seeks to unlock $30 billion in oil and $5 billion in gas investments, and the policies are anticipated to serve as a driving force behind this goal.

“This recent executive order is a testament to Nigeria’s commitment to strengthening its regulatory landscape, improving fiscals and supporting revenue generation across the oil and gas industry. The order is expected to play a significant role in attracting new investment into the country at a time when national production goals require greater capital and technology injection. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) positions the country as a globally competitive hydrocarbon market,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber

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Canada–Africa Financing Forum to Convene Investors and Decision-Makers in Cape Town – May 14, 2026

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Ateau Zola

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships

TORONTO, Canada, April 29, 2026/APO Group/ –The Canada–Africa Chamber of Business (https://CanadaAfrica.ca) will convene investors, financiers, policymakers, and industry leaders in Cape Town on May 14, 2026 for the Canada–Africa Financing Forum—a high-level platform focused on unlocking capital and accelerating deal flow across African markets.

Registration is open (http://apo-opa.co/4vZN6oV)

This timely Forum comes on the heels of commitments announced by Canadian Prime Minister Mark Carney, deepening Canada–Africa commercial ties and expanding investment partnerships. The program connects leaders from venture capital, private equity, and institutional investors to examine where capital is moving—and where the next opportunities lie—supported by Canadian project partners with proven capacity to deliver on-the-ground.

Delegates will engage directly with finance and investment decision-makers, following the program opening, featuring messages from President Cyril Ramaphosa and Prime Minister Mark Carney, in addition to high-level Ministerial representation.

This Forum is about capital deployment, not just conversation

“This Forum is about capital deployment, not just conversation,” said Garreth Bloor, President of the Canada–Africa Chamber of Business. “We are convening investors, institutions, and project leaders who are actively shaping transactions across Africa—and connecting them directly with Canadian partners who are ready to work together.”

The Canada–Africa Financing Forum reflects the Chamber’s role as a privately financed, market-led platform advancing Canada-Africa trade and investment through world-class networking and information-sharing events.

Why Attend

  • Direct access to active dealmakers and capital allocators
  • Insights into where capital is being deployed and key players delivering major projects
  • Opportunities to build partnerships across Canada and African markets
  • Participation in a curated, high-level environment focused on execution

Secure Your Place

Space is limited and demand is strong.

Apply to secure your place (http://apo-opa.co/4vXb9oz)

Read More and View the Program (http://apo-opa.co/4vZN6oV)

Distributed by APO Group on behalf of The Canada-Africa Chamber of Business.

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ORUN and 1xBET Partner to Support a Dynamic Creative Africa

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MIR Holding

During the MASA 2026 edition, held from April 11 to 18, 2026, ORUN and 1xBET implemented the We Champion Talent program, an initiative aimed at promoting African talent and advancing the development of Cultural and Creative Industries (CCIs)

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –As part of the Innovation Village co-organized with MASA at the Palais de la Culture in Abidjan from April 14 to 18, ORUN (https://ORUN.Africa) announces the rollout of its partnership with 1xBET to support a creative Africa that is structuring itself, professionalizing, and scaling across the continent.

We aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency

Designed as a space of convergence between heritage, innovation, and knowledge transmission, the Innovation Village features scenography crafted by Ivorian artisans, a program of panels and masterclasses on creative industries, an immersive experience produced by Orun Studios, and a major institutional highlight on April 17. Its narrative platform is built around three pillars: memory, structure, and transmission. The initiative aims to position cultural and creative industries as an economic driver for the continent.

“The Innovation Village was conceived as an act of construction. By partnering with organizations such as 1xBET, we aim to demonstrate that it is possible to support African talent, narratives, and creative ecosystems over the long term, with ambition and consistency,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

This vision aligns with ORUN’s broader ambition to produce, structure, and internationalize African creative industries through events, content, and strategic partnerships.

Distributed by APO Group on behalf of ORUN, part of African Currency Network (ACN).

 

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MIR Holding Reaffirms Its Commitment to African Creative Industries Alongside ORUN at Marché des Arts du Spectacle Africain d’Abidjan (MASA) 2026

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MIR Holding

More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures

ABIDJAN, Ivory Coast, April 28, 2026/APO Group/ –On the occasion of MASA 2026, held from April 11 to 18 in Abidjan, MIR Holding (https://MIRHolding.odoo.com) reaffirmed its commitment to supporting the growth of African creative industries by partnering with ORUN as part of the Innovation Village, hosted at the Palais de la Culture in Abidjan. This presence reflects a clear intention to support the scaling of cultural and creative industries so they can fully contribute to job creation and value generation across the continent.

 

Co-organized by ORUN and MASA, the Innovation Village brought together over several days scenography designed by Ivorian artisans, a program of panels and masterclasses dedicated to creative industries, an immersive experience produced by Orun Studios, and a key institutional highlight on April 17.

At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains

Built around three pillars — memory, structure, and transmission — the initiative carried a renewed ambition for culture: positioning it as a concrete lever for economic structuring and African projection.

By supporting this initiative, MIR Holding aligns with a broader dynamic aimed at strengthening connections between creation, entrepreneurship, content, youth, and growth ecosystems. More than event support, this partnership reflects a commitment to backing platforms capable of structuring value chains, increasing the visibility of talent, and fostering the emergence of strong African creative infrastructures. MIR Holding stands among the main partners of the Village, alongside Africa Currency Network and other stakeholders engaged in this vision.

“With ORUN, we are not only seeking to make culture visible. We aim to help provide it with a framework, a reach, and a trajectory. What is at stake here is the continent’s ability to better transform its creative energy into sustainable value, real opportunities, and influence,” said Habyba Thiero, CEO of Africa Currency Network and President of ORUN.

Mouhamed Dieng, President of MIR Holding, added: “Supporting Africa’s creative industries is not about backing a secondary sector. It is about investing in one of the continent’s most powerful spaces for storytelling, youth, innovation, and competitiveness. At MIR Holding, we believe that Africa’s future will also be shaped by its ability to structure its narratives, its talent, and its creative value chains.”

Distributed by APO Group on behalf of MIR Holding.

 

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