What is the primary objective of Nigeria's newly approved Deep-Water Oil Investment Framework?

The primary objective of Nigeria's newly approved Deep-Water Oil Investment Framework is to attract up to $50 billion in investment and revive long-delayed offshore oil and gas developments by replacing project-specific negotiations with a rules-based system under a new tax remission order, thereby providing investor certainty and strengthening Nigeria's competitiveness for global capital.

Which major project is cited as the first beneficiary of the new framework, and what is its expected timeline for final investment decision?

Shell's long-delayed $10 billion Bonga South West project is cited as the first beneficiary of the new framework, and it is expected to reach a final investment decision in 2027.

Nigeria Approves Deep-Water Oil Investment Framework Aimed at Unlocking $50 Billion

Aug 11, 2026

Nigeria has approved a new regulatory framework for offshore oil and gas projects to attract up to $50 billion in investment. The policy aims to revive delayed developments like Shell's Bonga South West project by replacing project-specific negotiations with a rules-based system.

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