Oil and gas agencies have raised concerns following President Bola Tinubu’s executive order directing oil and gas revenues to the Federation Account.
Officials at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) questioned how the agency would fund operations without its statutory four per cent cost-of-collection framework under the Petroleum Industry Act.
They warned that reliance on annual budget approvals could weaken operational independence and delay oversight functions critical to the upstream sector.
