Nigeria Petroleum Industry Act (PIA)

Seplat Energy has successfully transitioned its major onshore assets to Nigeria’s new Petroleum Industry Act (PIA) fiscal regime, a strategic move covering 31% of its production. This conversion, completed with regulatory partners, unlocks a more favorable tax framework designed to boost investment, operational efficiency, and cash flow. The company has already factored these financial benefits into its medium-term guidance, anticipating enhanced profitability. Seplat now aims to replicate this value-driven transition for its offshore assets by 2027.Continue Reading