Tinubu Orders Direct Oil Revenue Remittance

President Bola Ahmed Tinubu has directed that all oil revenue due to the federation be remitted directly into designated government accounts, a move officials say is aimed at tightening fiscal controls and boosting transparency in the petroleum sector.

The directive, announced by the presidency on Tuesday, mandates relevant agencies and operators to comply with immediate effect. Government sources said the order seeks to block leakages, improve revenue tracking, and ensure accurate accounting of funds generated from Nigeria’s oil resources.

According to officials, the decision follows concerns about discrepancies in remittance processes and the need for stronger financial discipline. “This administration is determined to safeguard national revenue and guarantee accountability,” a senior aide stated.

The policy is expected to affect agencies responsible for oil sales, revenue collection, and financial oversight. Analysts say it signals a push for stricter compliance mechanisms within the energy and public finance sectors.

Economic observers believe the directive could enhance government liquidity if fully implemented. They argue that improved remittance efficiency may support budget execution, debt servicing, and social investments.

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Industry stakeholders, however, have called for clarity on operational guidelines. Some oil sector representatives stressed the importance of seamless coordination to avoid disruptions in transactions and reporting systems.

Transparency advocates welcomed the development, describing it as a positive step toward addressing long-standing concerns about revenue management. “Direct remittance reduces opacity and strengthens audit trails,” one fiscal policy expert said.

Financial analysts added that consistent enforcement will be critical. They warned that without monitoring frameworks and penalties for non-compliance, the directive may face implementation challenges.

The presidency maintained that the measure aligns with broader reforms targeting economic stability, improved governance, and institutional accountability.

As agencies prepare to adjust procedures, stakeholders say the effectiveness of the directive will depend on compliance levels and oversight mechanisms in the months ahead.