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FG Approves Transition for Direct Oil Revenue Remittance to Federation Account

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By Yusuf Danjuma Yunusa

In a decisive move to enhance transparency and curb revenue leakages in the petroleum sector, the Nigerian Government has approved a transition period for oil companies to begin remitting revenues directly into the Federation Account. This directive is a core component of Executive Order 9, recently signed by President Bola Ahmed Tinubu.

The decision was formalized during the inaugural meeting of the Implementation Committee on Executive Order 9, held on February 26, 2026.

In a statement released on Monday, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who chairs the committee, announced the approval of a transition arrangement. He emphasized that this measured approach is designed to prevent any disruption to existing contractual and financing obligations within the oil industry.

The policy’s primary objective is to mandate the direct payment of all revenues from petroleum operations—including profit oil, royalty oil, and tax oil—into the Federation Account. This measure is intended to strengthen public finance management and ensure a more equitable distribution of resources across all three tiers of government (federal, state, and local).

Minister Edun explained that while the government is committed to enforcing the new payment structure, the committee agreed that a cautious implementation is vital to preserving investor confidence.

“With respect to Section 2, Sub-section 3 of Executive Order 9 on direct payments by contractors into the Federation Account, the Implementation Committee agreed that this transition must be implemented in a manner that respects existing contractual and financing arrangements and maintains investor confidence,” he stated.

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He further clarified that a defined transition period has been approved before the new remittance system becomes fully operational. Until detailed guidelines are released by the committee, existing payment processes will remain in place.

“Until the Committee issues detailed guidelines, contractors will continue to remit under the current process. During the transition period, the Committee will issue clear, standardised guidance to ensure an orderly changeover,” Mr. Edun added.

To operationalize the directive, the committee has established a technical subcommittee tasked with developing a comprehensive implementation framework within three weeks. This subcommittee will also conduct a review of the Petroleum Industry Act (PIA) to identify structural and fiscal provisions that may be weakening government revenues from petroleum operations.

“The Technical Subcommittee will develop the detailed guidelines for the transition to direct remittance within three weeks and commence a review of the Petroleum Industry Act to address structural and fiscal anomalies that weaken Federation revenues,” Mr. Edun said.

The panel will be chaired by the Special Adviser to the President on Energy, Mrs. Olu Verheijen. Its members include senior officials from the Office of the Solicitor-General of the Federation, the Federal Ministry of Justice, the Nigeria Revenue Service, the Forum of Commissioners of Finance, and representatives of the Minister of State for Petroleum Resources (Oil). The Budget Office of the Federation will serve as its secretariat.

As an immediate part of the reforms under Executive Order 9, the government has directed NNPC Limited to halt certain deductions under Production Sharing Contracts.

According to the committee, NNPC Limited is to immediately stop collecting a 30 per cent management fee and a 30 per cent frontier exploration fund deduction from profit oil and profit gas. Furthermore, the remittance of all gas flare penalties into the Midstream and Downstream Gas Infrastructure Fund has been suspended with immediate effect.

The implementation committee reaffirmed that these sweeping reforms are designed to guarantee that all revenues generated from Nigeria’s oil and gas resources are fully accounted for and paid into the Federation Account, in strict adherence to constitutional provisions.

“The Committee reaffirmed the President’s directive that revenues accruing to the Federation from petroleum operations must be handled in a manner that upholds constitutional principles, protects revenues accruable to the Federation and supports the fiscal stability of all three tiers of government,” the statement concluded.

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One Kano Agenda Applauds Formation of Retired Security, Civil Service Forum to Strengthen Peace in Kano

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The advocacy group, , has commended the establishment of the Forum of Retired Security Personnel and Senior Civil Servants in Kano State, describing the initiative as a timely and strategic intervention aimed at supporting existing security agencies in protecting lives and property acrosshlhl the state.

In a statement jointly signed by the Director General of One Kano Agenda, , and the Secretary-General, , the group said the emergence of the forum comes at a critical period when community-based approaches, intelligence sharing, and collective responsibility have become increasingly necessary in addressing security challenges.

According to the statement, the forum — which comprises retired military officers, police personnel, operatives of the Department of State Services (DSS), paramilitary officials, and experienced civil servants — is expected to significantly strengthen Kano’s security architecture through the wealth of expertise and institutional knowledge possessed by its members.

“One Kano Agenda believes that the coming together of highly experienced retired security officers and senior civil servants represents a major boost to the security framework of Kano State,” the statement read.

The group noted that the retired officers and public servants possess decades of operational experience, strategic understanding, and grassroots connections that could complement the efforts of conventional security agencies and contribute meaningfully to maintaining peace and stability in the state.

Describing Kano as the commercial and cultural heartbeat of Northern Nigeria, the organization emphasized that preserving peace in the state is vital not only for residents but also for the broader economic and social stability of the region.

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The statement further praised members of the newly established forum for voluntarily offering their services and expertise toward strengthening security coordination and promoting community engagement.

“This decision by distinguished elders and patriots to contribute toward safeguarding Kano is highly commendable and reflects a deep sense of patriotism and commitment to public service,” the group added.

While applauding the initiative, One Kano Agenda also outlined several recommendations aimed at ensuring the effectiveness and sustainability of the forum’s operations.

Among the recommendations was the need for the forum to prioritize grassroots sensitization and community engagement in order to build public trust and encourage citizens to actively participate in security matters.

The group also advised the forum to collaborate closely with traditional institutions, religious leaders, youth groups, civil society organizations, and community associations in developing practical and sustainable local security solutions.

In addition, One Kano Agenda stressed the importance of maintaining a professional and non-partisan operational structure focused solely on the collective interest of Kano State and its people.

The organization further recommended periodic security dialogues and stakeholder consultations to identify emerging threats and provide practical policy recommendations to relevant government authorities.

Recognizing the growing concern over youth involvement in crime and social unrest, the group urged the forum to pay special attention to youth empowerment, mentorship, and deradicalization programmes aimed at addressing the root causes of insecurity.

It also emphasized that all collaborations with security agencies must remain within the framework of the law, respect human rights, and uphold civil liberties.

Reaffirming its commitment to peace and development, One Kano Agenda reiterated its support for all genuine efforts geared toward protecting the lives, dignity, and prosperity of the people of Kano State.

The organization called on community leaders, stakeholders, and residents to support the initiative in the collective interest of peace, stability, and sustainable development.

“Kano belongs to all of us, and securing it is a shared responsibility,” the statement concluded.

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Nigeria, Italy Partner on $5bn Global Education Financing Campaign

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By Yusuf Danjuma Yunusa

Nigeria and Italy have agreed to establish a working group to implement a Global Partnership for Education financing campaign aimed at mobilising $5bn for education globally.

The initiative, tagged the “Multiply Possibility Campaign,” is expected to support learning for about 750 million children ahead of the Global Education Summit scheduled to hold in Rome in September 2026.

This was contained in a statement issued on Thursday by the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa.

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According to the statement, the campaign is also expected to unlock an additional $10bn in domestic education financing by 2030.

Odumegwu-Ojukwu said education remained a priority under President Bola Tinubu’s Renewed Hope Agenda, noting that the summit was important in view of Nigeria’s growing youth population.

She added that the partnership would help create opportunities for young people and address migration concerns through cooperation between both countries.

“We are interested in what we can do to keep our youth within our shores in productive ways,” she said.

Earlier, Mengoni said discussions focused on preparations for the summit as well as cooperation in tourism, economic development and defence.

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Hamzat Emerges First Lagos Deputy Governor to Secure Governorship Ticket

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By Yusuf Danjuma Yunusa

Deputy Governor Obafemi Hamzat on Thursday emerged winner of the All Progressives Congress’ governorship primary in Lagos.

Announcing the results at the collation centre situated at the APC secretariat, Ikeja, the returning officer, Jonathan Temlong, said that Mr Hamzat polled 657, 917 votes to defeat his rival, Olanrewaju Jim-Kamal, who got a vote.

He said that total accredited voters for the primary was 657, 974. According to the returning officer, the primary was conducted across the state’s 245 wards in the 20 LGAs peacefully because the exercise was a family affairs.

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Mr Temlong said that the election was peaceful, transparent and conducted in compliance with the party’s guidelines across the state.

Mr Hamzat polled 16,257 (Agege); 31,079 (Ajeromi-Ifelodun); 74,501 (Alimosho); 20,818 (Amuwo-Odofin), 5,430 (Apapa), 24,631 (Badagry), 37,680 (Epe), 28,754 (Eti-Osa), 33,861 (Ibeju-Lekki), 38,627 (Ifako-Ijaiye), 21,588 (Ikeja), 55,148 (Ikorodu), 51,600 (Kosofe), 27,348 (L/Island), 49, 079 (L/Mainland) and 38,971 (Mushin).

Mr Hamzat scored 36,372 (Ojo), 31,972 (Oshodi-Isolo), 16,706 (Somolu) and 17,495 (Surulere).

Declaring the winner, Mr Temlong said, “Having satisfied the requirements of the APC constitution and guidelines, and having scored the highest number of valid votes cast, Dr Kadri Obafemi Hamzat is hereby declared the winner.”

APC chair in Lagos, Cornelius Ojelabi, commended the national electoral committee and local organising committee for carrying out due diligence, while also applauding party members for their orderly conduct and commitment to democratic principles during the exercise.

Mr Ojelabi said the successful conduct of the primary reflected the unity and strength of the APC in Lagos ahead of the 2027 elections. He said that the Saturday’s presidential primary would also be a direct primaries holding across the 245 wards in the state.

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