President Bola Tinubu has signed an executive order for the direct remittance of oil and gas revenues to the federation account allocation committee (FAAC).
Bayo Onanuga, presidential spokesperson, announced the development in a statement on Wednesday.
The executive order, according to the presidency, will safeguard and enhance oil and gas revenues for the federation, curb wasteful spending, and eliminate duplicative structures in the oil and gas sector.
