What is it about?

Oil and gas generate substantial government revenue, attract investment and support economic development, but countries use different tax and fiscal systems to manage these benefits. This article reviews petroleum fiscal regimes across countries and examines the lessons they offer for Nigeria. It considers how governments balance public revenue, investor returns, investment incentives and the sustainable management of petroleum resources. The review highlights approaches that can inform improvements to Nigeria’s petroleum fiscal framework and strengthen the country's ability to benefit from its oil and gas resources.

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Why is it important?

Nigeria faces the challenge of maximising public revenue from petroleum resources while maintaining an attractive environment for investment. The design of its fiscal regime can influence investment decisions, government earnings and the long-term competitiveness of the petroleum sector. By examining international experience, this article provides a comparative basis for identifying lessons relevant to Nigeria's petroleum policy. Its insights can support policymakers, regulators, industry practitioners and researchers seeking to understand how fiscal rules can better balance national interests with commercial realities.

Perspectives

My interest in this research stems from the importance of petroleum fiscal policy to Nigeria's economic development and energy sector competitiveness. I see international comparison as a useful way to understand why fiscal systems produce different outcomes and what Nigeria might learn from other petroleum-producing countries. I hope this work contributes to more informed discussions on petroleum taxation, investment attractiveness and government revenue, while encouraging fiscal policies that reflect Nigeria's specific economic conditions and development priorities.

Kaseem Abidemi Obakhume
University of Ibadan

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This page is a summary of: Global review of oil and gas fiscal regimes: lessons for Nigeria, Polityka Energetyczna – Energy Policy Journal, September 2026, Instytut Gospodarki Surowcami Mineralnymi i Energia Polskiej Akademii Nauk,
DOI: 10.33223/epj/218077.
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