Govs Back Tinubu’s Order on Oil, Gas Revenue Remittance
State governors have endorsed President Bola Ahmed Tinubu’s directive mandating the direct remittance of oil and gas revenues into the Federation Account, describing the move as a step toward greater fiscal transparency and accountability.
The position was reached after deliberations at a meeting of the Nigeria Governors’ Forum (NGF), where members expressed support for measures aimed at improving revenue tracking and ensuring predictable allocations to federal, state and local governments.
Under the directive, revenues generated from crude oil sales and gas proceeds are to be paid directly into the Federation Account in line with constitutional provisions. Supporters of the policy say it will reduce leakages, enhance oversight and strengthen public finance management.
Governors noted that timely and transparent remittance would improve budget planning, facilitate infrastructure development and enhance service delivery across states.
Economic analysts also welcomed the decision, saying it could boost investor confidence and promote responsible fiscal governance in Nigeria’s oil-dependent economy.
However, stakeholders stressed the importance of effective implementation and continuous monitoring to ensure compliance by relevant agencies and institutions.
The development underscores ongoing efforts by the federal government and subnational authorities to reform revenue management and stabilise the country’s fiscal framework amid economic pressures.
