Olu Verheijen, Special Adviser to the Nigerian President on Energy, announced that Nigeria aims to produce 4 million barrels of oil per day and 10 billion cubic feet of gas by 2030. To support this ambitious goal, the government is implementing tax incentives, such as VAT exemptions on gas and related equipment. These reforms are expected to attract between $5 and $10 billion in investments, creating jobs and enhancing the country’s energy security while tapping into the 76% of unexploited gas resources.
