Nigeria: Energy and Natural Resources

The Nigerian oil and gas industry stands on the brink of significant transformation as President Ahmed Tinubu approves amendments to the Petroleum Industry Act. What specific reforms are being proposed, and how will these changes reshape the regulatory landscape for one of Africa's most critical energy sectors?

Nigeria's Oil & Gas Tax Revolution examines the transformative fiscal changes introduced by the Nigeria Tax Act, 2025, and their impact on the existing Petroleum Industry Act framework. The analysis explores how these new tax provisions reshape the regulatory landscape for oil and gas operations in Nigeria, affecting both domestic and international stakeholders in the energy sector.

Decarbonisation is no longer a distant climate ambition. It is now shaping legal frameworks, regulatory expectations, and investment decisions across energy-producing jurisdictions.

The Federal Government has introduced significant fiscal reforms in the mining sector with the enactment of the Nigeria Tax Act, 2025 (NTA) and the Nigeria Tax Administration Act, 2025 (NTAA). These new laws represent a definitive departure from the previous fiscal regime, which was primarily governed by the Nigerian Minerals and Mining Act, 2007 (the "Mining Act") and the Companies Income Tax Act, 1977 (as amended) (CITA).

Mining has become one of the key drivers of Africa's economic growth and development.

The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it is in advanced discussions with a Chinese petrochemical company over an equity partnership to revive one of its underperforming refineries.

The Nigerian oil and gas industry stands on the brink of significant transformation as President Ahmed Tinubu approves amendments to the Petroleum Industry Act. What specific reforms are being proposed, and how will these changes reshape the regulatory landscape for one of Africa's most critical energy sectors?

Nigeria's Oil & Gas Tax Revolution examines the transformative fiscal changes introduced by the Nigeria Tax Act, 2025, and their impact on the existing Petroleum Industry Act framework. The analysis explores how these new tax provisions reshape the regulatory landscape for oil and gas operations in Nigeria, affecting both domestic and international stakeholders in the energy sector.

Decarbonisation is no longer a distant climate ambition. It is now shaping legal frameworks, regulatory expectations, and investment decisions across energy-producing jurisdictions.

In recent years, Nigeria’s power sector has undergone a significant shift, from a centralized, government run monopoly to a more open and market-driven structure.

Grid electricity supply remained constrained throughout 2025. Despite installed generation capacity in excess of 13,000 MW, according to NERC data, average daily generation remained under 5000 MWh/h in 2025. This significant gap between installed capacity and delivered power continued to be driven by gas supply constraints and transmission bottlenecks.

The measure of a company's success is beyond the traditional balance sheet to include its broader impact on the world. This shift is defined by Environmental, Social, and Governance (‘ESG') principles...