President Bola Ahmed Tinubu has signed a new executive order aimed at restoring full oil and gas revenues due to Nigeria’s Federation Account and strengthening transparency in the sector.
The directive, titled Order 9 of 2026 Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity—mandates that all Royalty Oil, Tax Oil, Profit Oil, Profit Gas and other government entitlements under production-sharing and related contracts be paid directly into the Federation Account.
https://x.com/officialABAT/status/2024222333917958193
Tinubu said the reform was necessary to end excessive deductions, overlapping funds and structural distortions that have weakened remittances meant for federal, state and local governments.
He added that the additional 30 per cent management fee and the 30 per cent Frontier Exploration deduction would no longer hinder national revenue flows.
According to the President, the objective of the order is to promote transparency, accountability and constitutional compliance, stressing that oil and gas income must primarily serve the Nigerian people and support national development priorities such as security, education, healthcare, economic stability and energy transition.
Under the directive, the NNPC Limited is expected to operate strictly as a commercial enterprise in line with existing law, ending what Tinubu described as duplicative deductions and fragmented oversight in the sector.
The administration also plans a comprehensive review of the Petroleum Industry Act to address structural and fiscal anomalies affecting national revenue, alongside the creation of an implementation committee to coordinate enforcement of the executive order.
Tinubu said the move reflects his government’s commitment to protecting the Federation Account, strengthening the national budget and acting in the overall national interest, reiterating that Nigeria can no longer tolerate revenue leakages in a critical sector.
