NNPC Sends Oil Billions To FG
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The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission remitted more than N322bn and $116.9m into the Federation Account within two months after President Bola Tinubu signed Executive Order 9 in February 2026.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The move followed a new directive ordering full transfer of crude oil and gas revenues.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Documents presented at Federation Account Allocation Committee meetings showed that the remittances came from crude oil exports, gas sales, royalties, penalties and other petroleum earnings.
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The government introduced the policy to improve transparency and stop revenue leakages in the oil sector.
NNPC transferred $87.63m and N121.34bn from February earnings, while March receipts brought in another $29.28m and N42.64bn.
The commission also paid N34.2bn from royalties, gas flare penalties and concession rentals into the Federation Account during the review period.
The fresh inflows are expected to raise monthly allocations to federal, state and local governments as authorities battle rising spending demands and debt pressure.
The policy also comes as the government pushes for tighter control of oil revenue and better oversight across the petroleum industry.
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