President Asiwaju Bola Ahmed Tinubu announced, he has signed an Executive Order that will bring about the restoration of what is rightfully for the Nigerian people.
Via a statement on Wednesday 18 February, 2026 on X, signed by himself, the President said, the Presidential Executive Order will “safeguard” the country’s oil and gas revenues.
He said, “for too long”, the Federation Account has suffered “weakened remittances” due to “excessive deductions and structural distortions” in the oil and gas sector.
The President assured, the era of revenues meant for the government being “trapped in layers of charges and retention mechanisms must end”.
He said, the objective of his adminstration is “transparency and accountability”, adding, revenues from oil and gas “must serve the Nigerian people first'”.
The Statement reads:
“Dear Nigerians,
“Effective February 13, 2026, I signed an Executive Order to restore what belongs to the Nigerian people.
“For too long, excessive deductions, overlapping funds, and structural distortions in the oil and gas sector have weakened remittances to the Federation Account. When revenues meant for federal, state, and local governments are trapped in layers of charges and retention mechanisms, development suffers. That must end.
“With Order 9 of 2026 (Presidential Executive Order to Safeguard Federation Oil and GasRevenues and Provide Regulatory Clarity, 2026) which has now been gazetted, all Royalty Oil, Tax Oil, Profit Oil, Profit Gas, and other government entitlements under Production Sharing and related contracts will now be paid directly into the Federation Account.
“The additional 30 per cent management fee and the 30 per cent Frontier Exploration deduction will no longer stand in the way of national revenue.
“Our objective is transparency, accountability, and full constitutional compliance.
“Oil and gas revenues must serve the Nigerian people first and this reform is about fairness and fiscal responsibility.
“As we strengthen national security, invest in education, expand healthcare, stabilise the economy, and advance our energy transition, every legitimate naira due to the Federation must be protected.
“NNPC Limited will operate strictly as a commercial enterprise, as intended under law. The era of duplicative deductions and fragmented oversight is over.
“Our administration will also undertake a comprehensive review of the Petroleum Industry Act to address structural and fiscal anomalies that weaken national revenue. I have also approved the establishment of an Implementation Committee to oversee and ensure the effective, coordinated implementation of the executive order.
“Nigeria can no longer afford leakage where there should be leadership.
“We are safeguarding the Federation Account. We are strengthening our budget. We are acting in the national interest.
“This was my promise to Nigerians when I asked for this job. Nigeria First.”
