Our locations:

On 30 May 2025, the President of the Federal Republic of Nigeria enacted the Upstream Petroleum Operations (Cost Efficiency Incentives) Order, 2025, creating a performance-based tax credit for upstream lessees, licensees and contractors that meet or exceed annual cost-reduction targets set by the Nigerian Upstream Petroleum Regulatory Commission.

The Incentives created under the Order are aimed at improving cost efficiency and to enhance the competitiveness of the Nigerian Oil and Gas Sector, globally.

For more information or clarification on the Incentives, contact TEMPLARS Partner, Sesan Sulaiman, Senior Associate, Oluyemi Adebo, or Associate, Precious Emeka-Egonu.

view publication

Related posts

1 July 2025

New Lagos Electricity Order: What It Means for Current Operators and Potential Investors
Following the commencement of the Lagos State Electricity Law 2024, and the establishment of the Lagos State Electricity Regulatory Commission, LASREC issued a directive requiring all electricity operators in Lagos to obtain new operating licences. 
June 2025 Tax Digest 2

23 June 2025

TEMPLARS Transcripts: Tax Digest | June 2025
In this June 2025 edition of TEMPLARS Tax Transcripts, our Tax Practice shares key updates on judicial decisions, policy changes, and tax administration.
Energy and Natural Resources Digest June 2025

18 June 2025

TEMPLARS Transcripts: Energy & Natural Resources Digest | June 2025
In this June edition of TEMPLARS Transcripts, the Energy and Natural Resources Practice unpacks key developments shaping Nigeria and Ghana’s energy sectors including Nigeria’s first digital flare gas project, a new climate investment platform, and ..