Tinubu Signs Order for Direct Oil Revenue Payments

On Wednesday, President Tinubu signed an executive order that mandates all revenues from Nigeria's oil and gas sector to be paid directly into the federal account. This order, which is set to take effect on February 13, 2026, aims to address issues related to excess deductions and structural distortions that have weakened the remittance of funds to the federal account.

The executive order also establishes a committee to ensure a comprehensive review of the Petroleum Industry Act, targeting structural and fiscal anomalies that have adversely affected national revenue. The statement issued by the presidency emphasizes the importance of regulatory clarity and full compliance with constitutional requirements, with the overarching goal of benefiting the Nigerian populace.

The order has already been gazetted and is part of the administration's commitment to safeguarding the country's oil and gas revenue.