RismadarVoice Reporters, February 2026
The South-South Governors Forum (SSGF) has welcomed President Bola Tinubu’s Executive Order mandating the direct remittance of all oil and gas revenues to the Federation Account, describing it as a historic step towards fiscal transparency.
SSGF Chairman and Bayelsa State Governor, Senator Douye Diri, said the move restores constitutional integrity in Nigeria’s petroleum sector and eliminates opaque deductions that previously hindered states and local governments from accessing their rightful entitlements.
“The Executive Order strips the Nigerian National Petroleum Company Limited (NNPCL) of the nebulous 30 per cent Frontier Exploration Fund, mandates direct remittance of Royalty Oil, Tax Oil, and Profit Oil, and blocks revenue leakages,” Diri stated. He added that the decision would enhance available funds for critical infrastructure, healthcare, and education across all tiers of government.
The Forum also commended President Tinubu’s plan to review the Petroleum Industry Act (PIA), calling it a timely move to address structural flaws that reduced benefits to oil-producing communities and excluded states and local governments from administering their share.
“The Federal Government must revisit the reduction of the oil derivation for communities from 10 per cent to three per cent and ensure states and councils play a central role in managing what is due to local communities,” the statement said.
The SSGF concluded that the Executive Order offers hope for transparency, fiscal justice, and improved governance in the oil-producing states of Nigeria.
