Nigeria Bets $50 Billion

AbujaNigeria forgoes tax to unlock $50 billion in offshore oil.

The bet rests on projects operators might have built anyway, a cost that never shows up as spending.

President Bola Tinubu’s order gives leases until December 2029 to reach a final investment decision and qualify.

The unresolved question is whether metering and theft, not tax rates, keep draining Nigeria’s crude revenue.