The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has expressed its support for President Bola Tinubu's recent executive order which mandates that oil and gas revenues be directly remitted to the federation account. This directive is seen as a crucial step towards enhancing the inflow of funds into the federation account and addressing the persistent issue of revenue leakages that have plagued the nation’s economy for years. In a statement made by RMAFC Chairman, Dr. Mohammed Shehu, the commission highlighted the importance of such measures for fiscal responsibility and transparency in the management of government revenues.

Dr. Shehu praised the executive order as a decisive intervention and a commendable approach to improving the management of oil and gas revenues in Nigeria. The initiative is intended to restore transparency in fiscal operations while eliminating the long-standing issues that have led to significant revenue loss. The RMAFC described the president's directive as a constitutionally grounded and fiscally transformative action, which would empower all three tiers of government by providing a stronger revenue base.

The executive order itself is rooted in constitutional provisions set forth in the 1999 Constitution, specifically Section 5, and is aligned with Section 44(3), which deals with the management of national resources. This legislative backing gives the order a robust foundation, reinforcing the government's commitment to maintaining a transparent and accountable fiscal framework. This move may potentially redefine Nigeria's approach to oil revenue management and could signal shifts in how governments operate in relation to resource allocation, impacting the country’s economic landscape more broadly.