Nigeria EO‑9 (13 Feb 2026) directs oil & gas receipts into Federation Account, suspends NNPCL fees and FEF

On 13 February 2026 President Bola Tinubu signed Executive Order No.9 directing that royalty, tax oil, profit oil/profit gas and related petroleum receipts be paid directly into the Federation Account; it suspends NNPC Limited’s 30% Frontier Exploration Fund allocation and 30% management fee and redirects gas‑flare penalties from the MDGIF to the Federation Account.

If operationalised, the Order increases federal cash‑flow visibility by centralising petroleum remittances into a CBN‑controlled/federation account, potentially reducing episodic domestic funding stress. Transmission to FX reserves, external‑debt relief, and upstream investment depends on (a) timely conversion of lifted barrels into usable FX, (b) the Implementation Committee’s procedures and 90‑day transition mechanics, and (c) any legal or legislative challenges that could alter the Order’s effect.

End of the 90‑day transition window and legal or National Assembly responses to the Order.