By kalu Obasi Benjamin
Nigeria’s 36 state governors, acting through the Nigeria Governors’ Forum (NGF), have officially backed President Bola Tinubu’s new plan for managing oil money. The reform requires that all revenue earned from the country’s oil and gas sales be sent directly into the Federation Account.
This is the central pot of money that the federal, state, and local governments share to fund their budgets. The governors are specifically supporting a new rule called Executive Order 9, which the President signed in February 2026.
This order ensures that money from oil taxes, royalties, and profits follows the rules laid out in the Constitution. By sending the money straight to the main account, the government aims to make the process more transparent and cut out any confusion about where the money is going.
Governor AbdulRahman AbdulRazaq, the head of the Governors’ Forum, explained that this change makes financial planning much easier for everyone. When the states know exactly how much money is coming in and when to expect it, they can do a better job of managing their projects. In short, clearer rules lead to better planning, which leads to better results for the public.
With Nigeria’s population now over 220 million, the governors emphasized that they need steady and predictable funding to provide essential services. This includes building better roads, improving hospitals, funding schools, and keeping the public safe. Without a transparent way to collect oil revenue, it is difficult for states to meet these growing needs.
This public show of support from the governors is a big win for the Federal Government. it shows that both the national and state leaders are on the same page regarding how Nigeria’s natural resources should be managed.
Moving forward, the governors have promised to work closely with the President to ensure these financial reforms actually lead to a better life for all Nigerians.
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