EO9: Tinubu Not Making Laws, Only Protecting Oil Revenue—FG
By Patience Ikpeme
The Federal Government has cleared the air over the recently signed Executive Order 9, stating clearly that President Bola Tinubu is not trying to bypass the National Assembly or make his own laws.
Officials explained that the new order was created to ensure that all money belonging to the country from oil and gas is properly collected and put into the right government accounts as required by the Nigerian Constitution.
Dr. Tanimu Yakubu, who is the Director-General of the Budget Office and the Secretary of the team in charge of this new rule, said the Constitution is very strict about how national money should be handled. He noted that Section 80 of the 1999 Constitution demands that all money received by the country must be paid into one single account, known as the Consolidated Revenue Fund.
“Public revenue cannot lawfully be kept or spent outside the funds recognized by the Constitution,” Dr. Yakubu said. He explained that before any money can be shared between the federal, state, and local governments, it must first enter the official Federation Account.
Executive Order 9 was specifically designed to fix problems in the oil and gas sector. It mandates that all money from oil royalties, taxes, and gas penalties must now be paid directly into the Federation Account. This move is intended to stop the old habit of some agencies holding onto money or making deductions before the rest of the country gets its share.
Responding to critics who claim the President is stepping on the toes of the lawmakers, Dr. Yakubu said the order does not change any existing laws, like the Petroleum Industry Act (PIA). Instead, it uses the President’s executive powers to make sure that the laws already on the ground are followed faithfully.
“The order does not interfere with how the National Assembly does its work. It is simply a tool to make sure the Constitution and our laws are obeyed to the letter,” he added.
The government also stated that if anyone feels the new rule is not legal, the proper place to settle the matter is in the court of law. Until then, the Executive branch says it has a duty to protect the country’s wealth and make sure there is enough money for the monthly FAAC allocations, which states and local governments rely on to pay salaries and build projects.
By tightening how this money is tracked and reported, the government hopes to create a more stable economy where the budget is reliable and every kobo is accounted for.
