Nigeria fiscal reform update

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Nigeria's fiscal reform process has been ongoing for more than a decade. Following President Buhari's election victory in February 2019, it's been back to business for his administration. We provide a review of the year so far and an assessment of the pathways to fiscal reform and likely outcomes. Fiscal terms for deepwater producers are certain to toughen, but will the outcome be enough to stimulate investment in this critically important sector?

Table of contents

  • The DOIBPSC Act
  • Proposed amendment to the DOIBPSC Act
  • Direct negotiation with the IOCs
  • Why are the 1993 PSCs so important to the government?
  • What about the PIB?
  • The impact of fiscal uncertainty

Tables and charts

This report includes 7 images and tables including:

  • Profit oil sharing splits for the 1993 PSCs
  • Impact of DOIBPSC Act amendment by OML
  • Impact of DOIBPSC act amendment on Bonga SW (OML 118 PSC)
  • Impact of DOIBPSC act amendment on Preowei (OML 130 PSC)
  • Annual deepwater licence awards since 1999
  • Deepwater drilling & discovered resource since 1999
  • Deepwater production and capital expenditure

What's included

This report contains:

  • Document

    Nigeria fiscal reform update

    PDF 1.45 MB