New tax law forces IOCs to keep 30% of decommissioning funds in Nigeria

    Eniola Olatunji | TAX | Nov 17, 2025    
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International Oil Companies (IOCs) can now claim tax deductions on their costly decommissioning and abandonment (D&A) expenses if they deposit a minimum of 30 percent of those funds into an accredited Nigerian bank escrow account, according to the new tax laws in Nigeria.

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