President Muhammadu Buhari has signed the bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act.
Buhari made this announcement in a post on his official Twitter handle.
Mr Buhari said the signing of the Deep Offshore Act was a landmark moment for Nigeria.
President Buhari in London passed the Deep Offshore Act into law. Buhari in the tweet said he appreciated the lawmakers for their cooperation in making the ‘long overdue’ amendment possible.
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Buhari said he did request for the signing of the Bill during his 2020 Budget Presentation before the National Assembly.
The Bill aims to amend the provisions of the Deep Offshore and Inland Basin Production Sharing Contract Act 2004.
