South-South Governors Support Tinubu's Oil Revenue Order

The South-South Governors Forum, chaired by Senator Douye Diri of Bayelsa State, has endorsed President Bola Tinubu's Executive Order aimed at mandating the direct remittance of oil revenue to the federal account. This landmark decision is seen as a critical shift towards restoring constitutional integrity in Nigeria's petroleum sector.

The forum welcomed the elimination of opaque deductions that have historically affected the revenue allocation to federal, state, and local governments. The Executive Order is expected to significantly reduce revenue leakage and enhance fiscal justice for oil-producing states, potentially increasing available funds for infrastructure, healthcare, and education.

The governors emphasized the need for a comprehensive review of the Petroleum Industry Act (PIA), advocating for adjustments to ensure fair distribution of oil revenues. They also called for an immediate review of the current act, which they described as a "time bomb" due to its adverse effects on local governments and communities.