Yes, the new law strongly encourages investment in the gas sector.
- Companies building gas pipelines can receive a five-year tax holiday after their EDI period ends.
- New greenfield gas projects can receive tax credits ranging from $0.50 to $1.00 per thousand cubic feet (mcf) until 2029.
- Scenario: A company called “GasCo” could save as much as ₦2 billion per year through these new gas incentive tax credits.
