Nigeria has begun enforcing a presidential executive order requiring all state oil revenue to flow directly to federal accounts.
Finance Minister Wale Edun said his committee has stopped NNPC Ltd from taking a 30% management fee from revenue.
The funds previously withheld are now remitted straight to the government, aiming to plug leaks and strengthen fiscal transparency.
Edun added that new guidelines will ensure smooth, timely revenue transfers to all government tiers without extraneous deductions.
Frontier exploration deductions and penalties from gas flaring are now directed to the federation account, increasing national revenue visibility.
Nigeria is simultaneously pursuing technology-driven reforms to boost internal revenue collection and reduce dependence on volatile oil earnings.
Authorities are also exploring privatizations, divestments, and public-private partnerships as part of a broader strategy for economic efficiency.
The executive order reflects Nigeria’s urgent push to tighten fiscal controls amid growing domestic spending and public accountability demands.
Officials describe the measures as a decisive step toward modernising revenue management and curbing corruption in state-owned enterprises.
Observers say successful implementation could significantly increase federal funds, supporting development projects and stabilising Nigeria’s strained public finances.