President Bola Tinubu has signed an Executive Order directing all oil and gas revenues be remitted directly to the Federation Account, effectively halting the 30 per cent management fee previously retained by Nigerian National Petroleum Company (NNPC) Limited under the Petroleum Industry Act (PIA) 2021. The order, signed on February 13, 2026, and gazetted the same day, mandates the direct transfer of revenues from production sharing contracts and other upstream arrangements to the Federation Account..........................….......READ MORE