Nigerian President Bola Ahmed Tinubu recently issued the Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order 2024, introducing certain new incentives for the sector, generally effective from 28 February 2024. This includes the introduction of tax credit incentives for non-associated gas (NAG) greenfield developments in onshore and shallow water locations, where the first gas production of the greenfield NAG project is on or before 1 January 2029. The tax credits depend on the level of hydrocarbon liquids (HCL) content: where the HCL content does not exceed 30 barrels per million standard cubic feet (SCF), a gas tax credit...