Nigeria’s oil sector recorded a major boost in government inflows after the NNPC Limited and the Nigerian Upstream Petroleum Regulatory Commission transferred more than N322 billion and $116.9 million into the Federation Account within two months.

The payments followed the enforcement of a federal directive known as Executive Order 9, introduced by President Bola Tinubu in February 2026. The policy requires that all crude oil and gas earnings be fully remitted into the Federation Account to improve transparency and strengthen national revenue management.

Data presented at meetings of the Federation Account Allocation Committee showed that the new rule has significantly increased monthly inflows from the oil and gas sector.
For February 2026 earnings, shared in March, the NNPC transferred about $87.63 million and N121.34 billion.

The following month, covering March earnings and shared in April, it remitted $29.28 million and N42.64 billion. These payments covered revenue from crude exports, domestic sales, gas operations, and other petroleum-related earnings.

The company also confirmed that the funds represented full settlement of its oil and gas receipts in line with the new directive.

Separately, the Nigerian Upstream Petroleum Regulatory Commission contributed additional revenue to the Federation Account. In March 2026 alone, it remitted N34.2 billion collected from royalties, gas flaring penalties, lease rentals, and other upstream charges. However, this marked a decline compared to the previous month due to weaker royalty inflows.

Officials say the policy is part of wider efforts to block revenue leakages and ensure that all earnings from Nigeria’s oil sector are properly accounted for and distributed among the federal, state, and local governments.

The reform has also drawn attention from international observers, including the World Bank, which has encouraged stricter enforcement to sustain recent improvements in revenue transparency and public finance management.