Nigeria is reducing the costs for oil companies willing to sign new production contracts as OPEC’s largest African producer looks to attract firms in its oil and gas industry again, the head of the oil regulator told Bloomberg in an interview published on Wednesday. Nigeria plans to replace the so-called signature bonuses that companies owe to the government at the signing of contracts with lump sums for production, Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said. Lower costs…
