Arewa Think Tank Backs Tinubu's Oil Revenue Order

The Arewa Think Tank praised President Bola Tinubu for his recent executive order aimed at directing the remittance of oil and gas revenue to the federal account, which is part of efforts to boost national earnings and block leakages in the petroleum sector. The group, represented by Muhammad Yakubu, issued a statement on Tuesday, highlighting that the order is intended to safeguard government revenue, curb wasteful spending, and eliminate duplicative structures in the industry.

The executive order was signed pursuant to Section 5 of the 1999 Constitution and aims to restore constitutional revenue entitlements to federal, state, and local governments. The group noted that the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) is constitutionally empowered to monitor revenue accruals and disbursements but is not included in the newly established implementation committee.

They appealed for RMAFC's inclusion to enhance credibility and transparency in the process, emphasizing the importance of collaboration to fully realize the objectives of the executive order.