The President who is currently on a private visit to London, United Kingdom, disclosed this in a post on his official Twitter handle.
He described the signing as a landmark moment for Nigeria.
Deep Offshore and Inland Basin Production Sharing Contract Act was recently passed into law by the National Assembly.
President BUHARI in his tweet appreciated the lawmakers for their cooperation in making what he described as long overdue amendment possible.
He added that that during his 2020 Budget Presentation Speech before the National Assembly in October he had earlier highlighted the need to urgently review the fiscal terms for deep offshore oil fields, to reflect current realities and to ensure increased government revenues.
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