Governors support Tinubu’s directive on oil and gas revenue
The Nigeria Governors’ Forum has expressed support for the direct remittance of oil and gas revenues into the Federation Account. The forum believes this move will improve transparency and predictability in the country’s fiscal system. President Bola Tinubu signed Executive Order 9 on February 13, 2026, to realign oil and gas revenue flows with constitutional provisions. The decision has sparked both praise and criticism from various stakeholders.
What we know
- President Bola Tinubu signed Executive Order 9 on February 13, 2026, directing that oil and gas revenues be remitted directly into the Federation Account.
- The Nigeria Governors’ Forum says this measure will enhance fiscal transparency and constitutional alignment at all government levels.
- The Executive Order clarifies regulatory responsibilities in the petroleum sector and mandates direct remittance of government entitlements from oil and gas contracts.
- The forum highlighted that predictable revenue streams are crucial for capital planning, debt sustainability, and public service delivery.
- AbdulRahman AbdulRazaq, Chairman of the Nigeria Governors’ Forum, described the Federation Account as the backbone of Nigeria’s intergovernmental fiscal system.
