Nigeria: Governors back Tinubu’s oil revenue reform

By Zuleihat Owuiye, Mamos Nigeria

The 36 state governors in Nigeria have thrown their weight behind President Bola Tinubu’s reforms requiring oil and gas revenue entitlements to be remitted directly into the Federation Account. The Nigeria Governors’ Forum (NGF) described the move as crucial for strengthening fiscal transparency, predictability, and constitutional alignment across all tiers of government.

The governors specifically endorsed Executive Order 9, signed by President Tinubu which realigns oil and gas revenue flows with constitutional provisions and clarifies regulatory responsibilities within the petroleum sector. Government entitlements under production-sharing and related contracts, including royalty oil, tax oil, profit oil, and profit gas, are now required to flow directly into the Federation Account 

NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq, emphasized that the Federation Account is the backbone of Nigeria’s intergovernmental fiscal system, and structural clarity in remittance strengthens fiscal stability. The Forum reaffirmed its commitment to collaborating with the Federal Government to ensure fiscal reforms translate into sustainable development outcomes for Nigerians.