Federation Account

The Capital Market Academics of Nigeria has endorsed President Tinubu's Executive Order requiring direct remittance of oil and gas revenues to the Federation Account, calling it a significant fiscal transparency measure while recommending its extension to joint venture assets.

President Bola Tinubu has signed an executive order eliminating multiple deductions from oil and gas revenue, targeting an estimated 30% of receipts currently withheld before remittance to the Federation Account.

President Bola Tinubu has signed an executive order requiring direct remittance of oil revenues to the Federation Account, removing NNPC's authority to collect and manage a 30% exploration fund while suspending gas flare penalties.