The Nigeria Extractive Industries Transparency Initiative (NEITI) has praised President Bola Ahmed Tinubu for Executive Order 9, which mandates direct remittances of all government revenues from tax oil, profit oil, profit gas, and royalty oil under Production Sharing Contracts, profit sharing, and risk service contracts straight to the Federation Account.
Issued on February 13, 2026, the order aims to safeguard oil and gas revenues, curb wasteful spending, and eliminate leakages by requiring operators to pay all entitlements directly into the federation account.
NEITI executive secretary, Musa Sarkin Adar, called it “a bold step in ongoing fiscal reforms to improve financial transparency, strengthen accountability, and mobilise resources for citizens’ development.”
He noted the directive aligns with Section 162 of Nigeria’s Constitution.
For 20 years, NEITI has pushed for all government revenues to flow into the Federation Account transparently.
In its 2017 report, “Unremitted Funds, Economic Recovery and Oil Sector Reform,” NEITI revealed over $20 billion in due remittances had not reached the government, fueling fiscal woes and prompting high-level reforms.Hon. Sarkin Adar described the order as a key milestone in Nigeria’s EITI implementation.
He affirmed NEITI’s role in the Petroleum Industry Act (PIA) and urged amendments to align it with these reforms.
NEITI pledged close collaboration with stakeholders, anti-corruption bodies, and partners to sustain transparent management of Nigeria’s mineral resources.
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