Library / PRESIDENTIAL EXECUTIVE ORDER 2026
PRESIDENTIAL EXECUTIVE ORDER 2026

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B 1014 
Suspension 
of the 
collection of 
the Frontier 
Exploration 
Fund 
Onservine Tar the continuing decline in oil revenue inflows is largely 
attributable to the various off-budget allocations and deductions which are 
embedded in the Petroleum Industry Act as management fees and other 
sundry Funds; 
NotinG Tuat these fees and Funds are hugely duplicative and far 
exceed global benchmarks and thresholds, with the result that more than 
two-thirds of potential remittances are effectively diverted away from the 
Federation Account; 
NorinG Tuat issues of fragmented oversights, misalignment of 
governance responsibilities, and other regulatory impediments continue to 
hamper and undermine the realisation of the set objectives under the PIA and 
impact on remittances to the Federation Account; 
WHEREAS, it is imperative to provide clarity and regulatory stability in the 
oil and gas sector by delineating the regulatory responsibilities between the 
Nigerian Upstream Petroleum Regulatory Commission (Commission) and the 
Nigerian Midstream and Downstream Petroleum Regulatory Authority 
(Authority) as it relates to integrated petroleum operations; and 
Conscious of the need to reduce and correct inefficiencies and wastages 
in the management of oil and gas resources by eliminating all observed fiscal 
leakages (“Fiscal Directives”), as well as any administrative, operational and 
regulatory impediments to growth within the sector (“Regulatory Directives”), 
without compromising standards. 
Now THEREFORE, pursuant to the powers conferred on me under section 
3(1), (4) and (5) of the Petroleum Industry Act, 2021, and section 5 of the 
Constitution of the Federal Republic of Nigeria, 1999 (as altered), I, Bola 
Ahmed Tinubu, GCFR, President, Federal Republic of Nigeria, hereby order 
and make the following fiscal and regulatory directives — 
1.—(1) NNPC Limited shall suspend the collection and management of 
the 30% of the profit oil and gas allocated to the Frontier Exploration Fund 
(FEF) managed by the Commission. 
(2) NNPC Limited shall ensure that the 30% profit oil and gas from 
production sharing, profit sharing and risk service contracts currently earmarked 
for the FEF is henceforth transferred to the Federation Account.