President Bola Tinubu has signed a major law (Executive Order 9 of 2026) to ensure that every kobo earned from Nigeria’s oil and gas goes directly into the national pocket.
The President announced that this move is designed to stop "excessive deductions" that have kept the country’s bank account low for years.
From now on, all profits and royalties from oil and gas must be paid straight into the Federation Account. This means the money can be shared fairly between federal, state, and local governments.
Special deductions, like the 30% management and exploration fees that used to reduce the money reaching the government, have been scrapped.
The NNPC Limited will now focus strictly on being a business and will no longer be allowed to hold onto funds that belong to the public.
An "Implementation Committee" has been set up to make sure these new rules are followed strictly without any "leakages."
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