Former Chief of Staff to a former Imo State Governor, Uche Nwosu, has commended President Bola Ahmed Tinubu for mandating that revenues from the Nigerian National Petroleum Company Limited be paid directly into the Federation Account before any disbursement to the national oil company.
In a statement issued in Abuja, Nwosu described the directive as a bold fiscal reform aimed at entrenching transparency and strengthening accountability in Nigeria’s oil and gas sector.
“For years, Nigerians have demanded greater clarity in the management of petroleum revenues. By ensuring that NNPC earnings first go into the Federation Account, the President has created a framework that allows proper scrutiny and institutional oversight,” he said.
Nwosu noted that the move would curb financial excesses and address longstanding concerns over revenue remittances within the oil sector.
“This decision will enable Nigerians to know exactly how much the country is earning from its oil resources. It reinforces public trust and aligns with global best practices in public financial management,” he added.
According to him, the reform reflects courage and reform-driven leadership, stressing that Tinubu’s action signals a determination to strengthen institutions and enforce fiscal discipline.
He further stated that effective implementation of the directive would enhance macroeconomic planning, improve revenue projections and strengthen fiscal relations among the three tiers of government.
Nwosu urged the administration to sustain the momentum of governance reforms, noting that Nigeria stands to benefit significantly from sustained transparency and institutional strengthening.
NNPC Revenue Reform: Tinubu Showing Grit, Transparency Drive — Nwosu
