Nigeria to unlock $257bn gas fields with tax credits

Nigeria is looking to accelerate the development of its $257 billion non-associated gas (NAG) fields through tax credits, according to the Nigeria Tax Bill 2024. With an estimated 106.67 trillion cubic feet (Tcf) of NAG, accounting for 51 percent of the country’s total gas reserves, the proposed tax incentives under the Nigeria Tax Bill 2024 could spur investment and fast-track the development of these fields. By offering tax credits of up to $1.00 per thousand cubic feet for qualifying fields, the government aims to incentivise gas projects