NEITI Applauds Tinubu's Order to Block Oil Revenue Leaks

The Nigeria Extractive Industries Transparency Initiative (NEITI) praised President Bola Tinubu's executive order issued on February 13, 2026, which aims to block oil revenue leaks and strengthen fiscal transparency. The order mandates that oil revenues, including royalties and taxes, be directly remitted to the federal account, addressing issues of wasteful expenditure and revenue leakage.

NEITI's Executive Secretary, Musa Sarkin Adar, described this development as a bold step in ongoing fiscal reforms, emphasizing the need for improved financial transparency and resource mobilization for citizen benefit. The order aligns with Section 162 of the 1999 Constitution, which mandates that revenue accruing to the federation be paid into the federal account.

NEITI has been advocating for efficient revenue management and transparency, having previously uncovered $20 billion in unremitted funds due to the federal government. The executive order is seen as a significant milestone in implementing transparency standards in Nigeria's extractive sector, with NEITI calling for amendments to the Petroleum Industry Act to align with these reforms.