PRESIDENT TINUBU APPROVES DEEP OFFSHORE INVESTMENT FRAMEWORK TO UNLOCK $50BN.
By AfreecanImage News Desk ABUJA, Nigeria — August 11, 2026: President Bola Ahmed Tinubu has approved a new Deep Offshore Investment Framework designed to unlock up to US$50 billion in new investment and revive major capital-intensive offshore oil and gas projects that have remained stalled for years. According to the statement issued by the Presidency, the reform replaces project-by-project negotiations with a transparent, rules-based investment framework , aimed at providing greater certainty to investors while strengthening Nigeria's competitiveness for international capital. Bonga South West Project to Lead Investment Push The framework is expected to support the next generation of deep offshore developments, beginning with the approximately US$10 billion Bonga South West project . The Presidency said the initiative is intended to restart large offshore developments while creating a more predictable investment environment for oil and gas companies. The framework is ...