Executive order on oil revenue: Stakeholders offer opinion as tension grips NNPCL.
Energy experts and petroleum retailers have advised President Bola Ahmed Tinubu on the next steps following the issuance of Executive Order 09, which mandates the remittance of oil revenues to the federation account. The executive order, announced last Wednesday by presidential spokesman Bayo Onanuga, has stirred debate within Nigeria’s oil and gas sector. The directive discontinues two revenue streams previously retained by the Nigerian National Petroleum Company Limited (NNPCL) — the 30 percent management fee on profit oil and gas, […]