News
FG, States, LGs to Gain ₦15tn as Tinubu Signs Revenue Executive Order
This is based on an analysis of revenue inflows in 2025, drawing on monthly earnings submitted to the Federation Account Allocation Committee and obtained by our correspondent in Abuja on Thursday.
Based on estimates from 2025 remittances to the Federation Allocation Accounts Committee, the Nigerian National Petroleum Company is projected remit about N906.91bn in management fees and frontier exploration funds, while oil and gas royalties totalling N7.55tn and gas flaring penalties of N611.42bn collected by the Nigerian Upstream Petroleum Regulatory Commission will now be remitted directly to the Federation Account.
The Nigeria Revenue Service will also lose the authority to collect Petroleum Profits Tax and Hydrocarbon Tax, which generated N4.905tn in 2025, while the Midstream and Downstream Gas Infrastructure Fund recorded N596.61bn in the same period, bringing the total affected revenue streams to about N14.57tn.
It was reported on Wednesday that the President signed the executive order directing that royalty oil, tax oil, profit oil, profit gas, and other revenues due to the Federation under production sharing, profit sharing, and risk service contracts be paid directly into the Federation Account.
The order also scrapped the 30 per cent Frontier Exploration Fund under the PIA and stopped the 30 per cent management fee on profit oil and profit gas retained by the Nigerian National Petroleum Company Limited. The order, which took effect from February 13, 2026, is aimed at safeguarding oil and gas revenues due to the Federation and improving remittances into the Federation Account.
According to details of the directive, the President invoked Section 5 of the Constitution of the Federal Republic of Nigeria (as amended), while the policy was anchored on Section 44(3), which vests ownership and control of all minerals, mineral oils, and natural gas in the Government of the Federation.
The implementation of the directive commenced in January, and its impact is expected to reflect in the revenue allocations at the FAAC meeting scheduled for next week.
Since the implementation of the PIA in 2021, the Federation Account, shared by the federal, state, and local governments, received only 40 per cent of proceeds from Production Sharing Contracts. The remaining 60 per cent was retained by the NNPC, split between a 30 per cent Frontier Exploration Fund and a 30 per cent management fee.
Under the new directive, NNPC will no longer collect and manage the statutory 30 per cent Frontier Exploration Fund, a development expected to significantly alter the revenue landscape of the oil and gas sector.
The frontier exploration fund is designed to finance hydrocarbon exploration activities in Nigeria’s frontier basins, areas outside the traditional Niger Delta producing belt, where commercial discoveries have yet to be fully established. These include: the Chad Basin in the North-East, the Sokoto Basin in the North-West, the Bida Basin in North-Central Nigeria, the Benue Trough, and parts of the Dahomey basin.
Exploration in these locations is aimed at expanding Nigeria’s reserve base, reducing regional concentration of oil production, and enhancing long-term energy security. Activities typically involve seismic data acquisition, exploratory drilling, geological studies, and appraisal campaigns.
The fund was floated under the Petroleum Industry Act because frontier basins are generally high-risk and capital-intensive, and therefore would require sustained funding considered critical to maintaining exploration momentum.
In addition, the national oil company will no longer be entitled to the 30 per cent management fee on profit oil and profit gas revenues. The order further directed that all operators and contractors of oil and gas assets under Production Sharing Contracts must now pay Royalty Oil, Tax Oil, Profit Oil, Profit Gas, and any other government interest directly into the Federation Account.
The directive also suspended payments of gas flare penalties into the Midstream and Downstream Gas Infrastructure Fund, instructing the Nigerian Upstream Petroleum Regulatory Commission to remit all proceeds from penalties imposed on operators directly into the Federation Account.
It further directed that all expenditure from the Midstream and Downstream Gas Infrastructure Fund must now comply with extant public procurement laws and regulations. Tinubu said excessive deductions, overlapping funds, and structural distortions in the oil and gas sector have weakened remittances to the Federation Account, warning that the practice must end to protect national revenue.
In a post on his verified X handle, the President stated that for too long, revenues meant for federal, state, and local governments had been trapped in layers of charges and retention mechanisms, thereby slowing development across the country.
He said, “For too long, excessive deductions, overlapping funds, and structural distortions in the oil and gas sector have weakened remittances to the Federation Account. When revenues meant for federal, state, and local governments are trapped in layers of charges and retention mechanisms, development suffers. That must end.”
Tinubu emphasised that oil and gas revenues must serve Nigerians first, noting that the ongoing reforms in the sector are aimed at promoting fairness and fiscal responsibility. He added, “Oil and gas revenues must serve the Nigerian people first, and this reform is about fairness and fiscal responsibility.”
The President explained that as the government strengthens national security, invests in education, expands healthcare, stabilises the economy, and advances the country’s energy transition, every legitimate revenue due to the Federation must be protected.
According to him, NNPC will now operate strictly as a commercial enterprise in line with the law, stressing that the era of duplicative deductions and fragmented oversight in the sector is over. Tinubu also disclosed that his administration would undertake a comprehensive review of the Petroleum Industry Act to address structural and fiscal anomalies weakening national revenue.
He further announced the approval of an implementation committee to oversee and ensure effective and coordinated execution of the executive order on the matter.
The President said, “Nigeria can no longer afford leakage where there should be leadership. We are safeguarding the Federation Account. We are strengthening our budget. We are acting in the national interest.”
He reiterated that the reforms are part of his administration’s commitment to Nigerians, adding that the policy direction aligns with his “Nigeria First” promise.
Based on the latest Federation Allocation Accounts Committee revenue data for 2025, the reallocation could have far-reaching implications for government earnings and sector institutions.
While many Nigerians and energy experts have expressed concerns over the potential impact of the policy on the oil and gas industry, a review of potential revenue reallocation suggests that the NNPC may be the least affected among the key players.
Other relevant government agencies operating within the sector could bear a heavier burden, particularly in terms of revenue losses, operational adjustments, and institutional restructuring.
Governor Francis Nwifuru of Ebonyi State has removed the Commissioner for Works, Engr. Stanley Lebechi Mbam, from office with immediate effect.
The governor’s directive was contained in a statement issued on Friday by his Chief Press Secretary, Dr. Monday Uzor.
According to the statement, Mbam was directed to immediately hand over all government property in his possession, including his official vehicle, to the Secretary to the State Government.
He was also ordered to transfer the responsibilities of the Ministry of Works to the Permanent Secretary pending further directives from the state government.
The statement read in part: “The Governor of Ebonyi State, His Excellency, Rt. Hon. Francis Ogbonna Nwifuru, has directed the immediate removal from office of the Honourable Commissioner for Works, Engr. Stanley Lebechi Mbam.
“He is to hand over all government property in his possession, including his official vehicle, to the Secretary to the State Government and transfer responsibilities to the Permanent Secretary in the ministry.”
The governor, according to the statement, assured residents that his administration remained committed to effective governance and improving public infrastructure across the state.
No reason was given for Mbam’s removal.
The development comes months after Nwifuru suspended Mbam and the Commissioner for Infrastructure Development and Concession, Engr. Ogbonnaya Obasi-Abara, in February 2026 over alleged dereliction of duty.
The earlier suspension was also announced by Uzor, who directed the affected commissioners to surrender government property and official vehicles to the SSG.
Mbam’s latest removal has reportedly generated concern within the State Executive Council, particularly amid calls for improved performance by government officials.
Former Commissioner for Information and State Orientation under the administration of former Governor David Umahi, Senator Emmanuel Onwe, had recently called on Nwifuru to overhaul his State Executive Council and ensure that officials who were underperforming lived up to expectations.
The government has not indicated whether Mbam’s removal is connected to the earlier suspension or any specific issue concerning the Ministry of Works.
News
SEDC to Launch 50,000-Hectare Agro-Mechanisation Project in Enugu to Tackle Unemployment, Insecurity
The South-East Development Commission (SEDC) has concluded arrangement for the kick-off the zone-wide 50,000-hectare agro-mechanisation project in Enugu community meant to tackle insecurity, unemployment and food insecurity.
The SEDC zone-wide 50,000-hectare agro-mechanisation, which is meant to be established in each of the 15 senatorial zones of the five South-East states, would commence at a pilot scheme level on Sept. 22.
This is contained in a statement issued by the media aide to the Governor of Enugu State, Chief Uche Anichukwu, on Wednesday in Enugu.
The Managing Director of the Commission, Mr Mark Okoye, disclosed this during a community engagement at the pilot project site in Nomeh Unateze community in Nkanu East Local Government Area of Enugu State on Tuesday.
Okoye said the SEDC had, following its establishment in 2024, used the first year to do extensive studies and design a blueprint that cuts across different areas of the South-East economy.
He said the agro-mechanisation projects, remained a major part of the commission’s blueprint, explaining that it would address insecurity, unemployment, and food security.
According to him, so, what we are here for is one of our flagship initiatives, which is called the South-East Agro Mechanisation Programme or the South East Agro Development Programme.
Okoye said that the SEDC was committed to develop up to 50,000 hectares of land and that would be used for mechanised farming across the region.
“We are here for a pre-assessment, pre-flag-off visit to see the area, understand the level of work that needs to be done and ensure that contractors can start mobilising so that once we hit the site we start running.
“Because a big part of what we are looking at is how to address food insecurity and unemployment, ensuring that we are producing what we put on the table.
“We are starting with pilot programmes where we are taking 200 to 300 hectares of farmland across 15 senatorial zones and developing them to standard farms.
“Where you not only have cassava, maize, some of our staple crops, but also some cash crops. In some areas, there will be the centres for learning and centres for productivity,” he said.
Okoye said that Gov. Peter Mbah would flag off the project on Tuesday, adding the SEDC team came to assess the area, meet with the community and ensurr that all the plans are in place.
“And within the second we put this investment here, at least N4 billion or N5 billion of added investment will come in,” he said.
Okoye commended President Bola Tinubu for addressing the long yearning by the South-East for a commission to mobilise resources and coordinate development in the region.
He urged the people to reciprocate the numerous gestures by supporting the Tinubu to continue the development efforts post 2027.
He further revealed that the commission would soon roll ou an investment agency to help mobilise local and Diaspora investments for the region’s speedy development.
A community leader in the community, Chief Uche Anichukwu, described the agro-mechanisation project as one of the blessings of the APC, Tinubu and Mbah administrations to Enugu State in general and Nomeh Unateze in particularly.
Anichukwu, who is also media aide to the Governor of Enugu State, said that the Nenwe-Nomeh-Mburubu-Nara road, with a spur to Oduma, had created ready and multiple access to market for the proposed agricultural project.
Speaking, Chairman, Nomeh Unateze Town Union Caretaker Committee, Dr Chukwudi Anyianuka, and other community stakeholders, reiterated their support for the project.
They commended Tinubu and Mbah for siting the project in their community.
“We are very happy. We cannot wait to see it actualised and we promise that we are going to provide everything that is necessary to make sure that this is established.
“The Commission has taken a methodical approach to regional development.
“Rather than the pitfall of throwing money at development challenges, it undertook a study of the region and came up with a master plan, which includes this initiative, to reinvent the South-East,” Anyianuka added.
Also present at the interactive session were the members of the traditional council of Nomeh Unateze and community heads.
…As Onitsha South Mayor Empowers Workers
By Okey Maduforo, Awka
Maintenance and rehabilitation works at the recently closed First Niger Bridge are being hampered by poor lighting during night shifts and inadequate sanitary facilities at the site.
Recall that before the closure of the bridge, the Minister of Works, Engr. Dave Umahi, had disclosed that efforts would be made to carry out some of the rehabilitation works at night.
However, some of the workers at the site said poor lighting was affecting effective monitoring of activities on the bridge, while the poor sanitary condition of the area was also posing a threat to their health.
The workers made the complaints during a working visit to the bridge by the Mayor of Onitsha South Local Government Area, Chief Emeka Orji.
Orji, who was accompanied by the Secretary of the Local Government, Barr. Paul Onuachalla, and executives of the Fegge Community Landlords/Tenants Welfare Association, led by its Chairman, Chief Nnamdi Onugha, provided cooked meals and packs of bottled water to the personnel and workers at the site.
Speaking after the visit, Orji said the gesture was aimed at supporting the workers and showing solidarity with the Federal Government’s rehabilitation efforts on the bridge.
He said, “To support the workers and give them a sense of belonging, that is why we came to appreciate them. We will continue doing so from time to time as part of our Corporate Social Responsibility.”
The Mayor also disclosed that the council had provided facilities, including mobile toilets and water tanks, while arrangements were being made for water tankers to supply water to the tanks.
Orji further stressed the importance of the military presence in Onitsha South, noting that the personnel would contribute to security, rapid response and protection of the bridge, Onitsha South and parts of Ogbaru Local Government Area.
He added that the council would continue to strengthen its collaboration with security agencies to ensure maximum security across Onitsha South Local Government Area.
Earlier, after inspecting the environment with the Mayor, the Officer in Charge, who pleaded anonymity, identified poor lighting at the bridge at night as one of the major challenges confronting the personnel.
According to him, the situation makes it difficult to effectively monitor activities around the bridge, particularly during night shifts.
He also complained about the poor sanitary condition of the under-bridge environment where the personnel camp, saying they had to clean up the area themselves upon arrival.
The officer further appealed for improved accommodation and food support for the personnel.
He, however, commended the Mayor for the visit and assistance, saying the gesture made the workers feel appreciated.
“We feel loved and appreciated. We are happy seeing you around,” he said.
Africa’s richest industrialist, Aliko Dangote, has revealed that he bought his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
Reflecting on his business journey, the billionaire said he had enjoyed travelling by private jet over the years but was now comfortable using commercial flights.
He also urged wealthy Nigerians to channel more of their resources into productive investments rather than luxury assets.
Dangote particularly appealed to affluent Nigerians who spend huge sums on private aircraft to consider investing such wealth in industries and businesses that could contribute to Nigeria’s economic growth.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that directing private wealth towards productive ventures would help strengthen the economy, create jobs and provide greater opportunities for national development.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.
NDCCITMA considers the allegation misleading and wishes to set the record straight.
The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.
More importantly, the chronology of events does not support the allegation being made against NDCCITMA.
While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.
NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity
It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.
NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law
We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.
NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.
The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.
Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)
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