Guidelines for Direct Payments to Federation Account Ready Soon

The implementation committee for Executive Order 9, chaired by Minister of Finance Wale Edun, disclosed that detailed guidelines for direct payments into the Federation Account will be finalized within three weeks. This announcement was made during the committee's inaugural meeting on February 26, 2026.

The committee reaffirmed President Bola Tinubu's directive to ensure that revenue from petroleum operations is handled in a manner that upholds constitutional principles and supports fiscal stability across the three tiers of government. The committee's decisions include the immediate cessation of NNPC's collection of a 30% management fee and the suspension of the midstream downstream gas infrastructure fund.

Until the committee issues detailed guidelines, contractors will continue to remit revenues through the current processes. A technical subcommittee will be established to develop these guidelines and review the Petroleum Industry Act to address fiscal anomalies affecting federal revenue.