The Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026 – Commentary by Tope Adebayo, Senior Partner, Tope Adebayo LP
On February 13, 2026, the President of the Federal Republic of Nigeria signed Executive Order 9 of 2026 (“the Order”) pursuant to Section 5 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) (“ the Constitution”). The order mandates direct remittances of all Royalty Oil, Tax Oil, Profit Oil, Profit Gas, and […]
Technology Transfer in Nigeria’s Oil and Gas Industry: Compliance, Gaps, and Practical Solutions
Introduction Technology transfer is the sharing or disseminating of knowledge, skills, methods, technologies, equipment, intellectual property or innovations from one entity (often a foreign company, university or research institution) to another (often a local company, country, or individual) enabling the recipient to use, adapt, and apply it independently to foster innovation, economic development and improved […]
Nigeria 2025 Licensing Round
On November 11, 2025, the Nigerian Upstream Petroleum Regulatory Commission (“NUPRC” or the “Commission”) announced that Nigeria’s 2025 Licensing Round will commence on December 1, 2025. The announcement was made by the Commission’s Chief Executive, Engineer Gbenga Komolafe, at the 1MMBOPD Additional Production Investment Forum in London. The licensing round focuses on discovered but undeveloped […]
End-Of-Year Report on the Nigerian Oil And Gas Industry
INTRODUCTION As we enter the new year, it is important to reflect on the major developments that shaped Nigeria’s oil and gas industry in 2025. The sector continued to evolve under the framework of the Petroleum Industry Act (PIA), 2021 and the current administration’s six policy directives: Presidential Directives 40 (Tax Incentives Order 2024), 41 […]
Assignments Under the Petroleum Industry Act: Investor Considerations from Upstream to Downstream Part 2
In Part 1 of this article series, we examined the regulatory framework governing the assignment of interests in Nigeria’s upstream oil and gas sector under the Petroleum Industry Act (PIA). We highlighted the types of transactions that require ministerial consent, those that do not, the fees involved, and the consequences for non-compliance. A solid understanding […]
Assignments Under the Petroleum Industry Act: Investor Considerations from Upstream to Downstream PART 1
Over the years, Nigeria’s oil and gas industry has experienced a wave of divestments, as several international oil companies step back from certain assets, creating more space for indigenous players, particularly in the upstream sector. In the same vein, indigenous companies have been known to assign or transfer part of their interests in oil and […]
Key Achievements and Challenges of the Nigerian Extractive Industries Transparency Initiative (NEITI)
INTRODUCTION Nigeria ranks as the 15th largest oil producer globally and the leading producer on the African continent. It also holds the largest proven natural gas reserves in Africa. The oil and gas sector constitutes the backbone of the Nigerian economy, reportedly accounting for approximately 65% of government revenue and over 85% of total export […]
The 2025 Nigeria Oil and Gas Industry Mid-Year Report and Future Projections
INTRODUCTION In our 2024 Mid-Year and End-of-Year Report, we highlighted key infrastructural development, emerging investments, and regulatory reforms in accelerating Nigeria’s energy transition, particularly following the Federal Government’s declaration of the Decade of Gas initiative. We tracked the progress of strategic projects, policy interventions, and state-run refinery rehabilitation efforts, while also highlighting projections for Nigeria’s […]
2026 Mid-Year Report on the Nigerian Oil and Gas Industry
Introduction The Nigerian oil and gas industry entered 2026 on the back of a particularly active 2025, which was characterised by major Final Investment Decisions (FIDs), the completion of the 2024 licensing round and commencement of the 2025 licensing round, an unprecedented rise in rig activity, and the announcement of several significant transactions across the […]
Unveiling Nigeria’s Carbon Market: Policies, Progress, and Prospects
INTRODUCTION World leaders gathered in Paris during the 2015 UN Climate Change Conference (COP21) to endorse the Paris Agreement; an International Energy Treaty grounded in the 1992 United Nations Framework Convention on Climate Change (UNFCCC). Within this pact, they committed to curbing the global rise in temperature to under 2 degrees Celsius above pre-industrial levels, […]
