Overview

Presidential Executive Order No. 9 of 2026, titled 'Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity,' was issued on February 13, 2026, by the Federal Republic of Nigeria. The order addresses fiscal challenges in the oil and gas sector, citing opaque and structural revenue diversions under the Petroleum Industry Act, 2021, which have led to declining net oil revenue inflows and fiscal pressures on Federal and State budgets. It suspends three key financial mechanisms: (1) the collection of the Frontier Exploration Fund, which was set aside for frontier basin exploration; (2) the payment of 30% management fee on profit oil and profit gas revenues to NNPC Limited; and (3) the payment of the Gas Flare Penalty into the Midstream and Downstream Gas Infrastructure Fund. Additionally, it constitutes a Joint Project Team to execute integrated petroleum operations and establishes an Implementation Committee to oversee the order's execution. The order is grounded in the 1999 Constitution, which vests mineral ownership in the Federation, and aims to redirect revenues to the Federation Account for equitable distribution among Federal, State, and Local Governments. It takes effect from February 13, 2026, and mandates immediate compliance by all relevant agencies and entities.

Download