FG redirects oil revenues to federation account via executive order
FG mandates NNPCL remit oil revenues to federation account via Executive Order 09, discontinuing 30% management fee and Frontier Exploration Fund. Order redirects gas flaring penalties and other NNPCL income streams to federation account, expected to add N14 trillion to national coffers while improving transparency. Development sparks debate over PIA 2021 alignment and investor confidence. PENGASSAN president calls for order withdrawal, warning of PIA erosion. Energy expert Tim Okon argues legislative amendment via National Assembly preferable to executive order. Billy Gillis-Harry sees order as catalyst for PIA reform. FG defends order as constitutional alignment. NNPCL leadership faces accountability questions over N210 trillion unaccounted funds since 2017.