“Tinubu’s policy directives are pivotal to the industry’s future” – IPPG

The Independent Petroleum Producers Group (IPPG) has endorsed the recent Executive Orders signed by President Bola Tinubu, which the government says is aimed at revitalizing investment in the Nigerian oil and gas sector and positioning the country as Africa’s premier investment destination within the energy sector. The organization in a statement issued yesterday noted that President Tinubu’s policy directives include the introduction of value-adding fiscal incentives for investments in upstream non-associated gas developments, midstream infrastructure, and deepwater assets. It stated that the orders also streamlined the industry’s contracting process and sought to reform local content practices. “All of these measures are pivotal to the future of the industry and have been recommended by the industry for many years. We are encouraged to see swift progress within a relatively short period,” the group stated.