Naija Politics

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Leunas

7 months ago

Tinubu pushes fiscal reform directing all oil revenues to federation account

President Bola Tinubu ordered that all oil and gas revenues be paid directly into the federation account, removing earlier provisions that allowed NNPC and regulators to retain large shares for operational costs and frontier exploration. The directive aims to address fiscal pressure and improve revenue transparency for federal, state, and local governments. Politically, the reform is significant because it alters long-standing revenue-sharing structures and may trigger resistance from stakeholders within the petroleum sector. The presidency has set up an implementation committee to review legal frameworks and enforce compliance. �

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