Tinubu Signs Executive Order to Boost Oil Revenue Transparency

On February 13, 2026, President Bola Ahmed Tinubu signed Executive Order No. 9, which seeks to deepen transparency in the inflow of revenue from Nigeria's oil and gas sector. The order aims to correct past fiscal management mistakes and ensure that revenue derived from hydrocarbon resources is fully accounted for in accordance with the 1999 Constitution.

It addresses the challenges of declining oil and gas revenue inflows despite improved production levels. The order suspends certain off-budget allocations, including management fees and penalties related to gas flaring, and mandates that revenues be remitted directly to the federal account.

The Nigerian National Petroleum Company Limited (NNPCL) is required to limit direct tax and royalty payments to contractors. The order also establishes an inter-agency implementation committee chaired by the Minister of Finance and coordinated by the Minister of Economy to ensure seamless execution.

This initiative is crucial for restoring fiscal discipline and enhancing the financial capacity of the government to meet its budgetary obligations.