Tinubu’s NNPC order cuts deductions to N8.4tn – W’Bank
A World Bank report says President Tinubu’s order stopping certain NNPC retentions cut Federation Account deductions from N10.1tn to N8.4tn in H1 2026. Read More: https://punchng.com/tinubus-nnpc-order-cuts-deductions-to-n8-4tn-wbank/
President Bola Tinubu's Executive Order 9, signed on February 13, 2026, has led to a significant reduction in deductions from Nigeria's Federation Account, from N10.1tn in the first half of 2025 to N8.4tn in the corresponding period of 2026. The World Bank attributes this development to the elimination of the Nigerian National Petroleum Company Limited's 30% management-fee and Frontier Exploration Fund deductions, as well as the redirection of gas-flaring penalties to the Federation Account.
The measures have resulted in a 16.8% decrease in deductions, bringing the share of GDP from 4.6% to 3.4%. Consequently, distributed Federation Account revenues have increased from N7.6tn to N10.5tn, representing a 38.2% rise.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
