By Ambrose Nnaji

The Nigeria Extractive Industries Transparency Initiative (NEITI) has applauded President Bola Ahmed Tinubu for issuing Executive Order 9, directing that all revenues accruing to the Federal Government from tax oil, profit oil, profit gas, royalty oil, and other government entitlements under production sharing, profit-sharing and risk service contracts be remitted directly into the Federation Account.

The Executive Order, signed on February 13, 2026, is designed to safeguard oil and gas earnings, curb leakages and eliminate wasteful expenditure by ensuring that all operators transfer statutory revenues straight to the constitutionally recognised Federation Account.

In a statement, NEITI’s Executive Secretary, Musa Sarkin Adar, described the directive as “a bold and strategic milestone” in Nigeria’s ongoing fiscal reform agenda aimed at strengthening transparency, accountability and revenue mobilisation.

According to him, the presidential order aligns squarely with Section 162 of the Constitution, which mandates that all revenues collected by the government be paid into the Federation Account for equitable distribution among the federating units.

“For over two decades of our oversight work, NEITI has consistently recommended the full remittance of all revenues due to the Federation Account in line with constitutional provisions,” Sarkin Adar stated. “This directive reflects the realisation of that long-standing reform objective.”

He recalled that NEITI’s 2017 special report titled Unremitted Funds, Economic Recovery and Oil Sector Reform uncovered over $20 billion in revenues owed to the Federation but yet to be remitted at the time — a development that significantly strained government finances and triggered high-level engagements between the executive, legislature and oversight bodies.

The NEITI boss said the new order marks a critical step in addressing systemic revenue gaps and consolidating reforms introduced under the Petroleum Industry Act (PIA), which remains the principal legislation governing Nigeria’s oil and gas sector.

While affirming NEITI’s longstanding advocacy that contributed to the enactment of the PIA, Sarkin Adar urged the National Assembly and relevant stakeholders to expedite amendments to align certain provisions of the law with emerging fiscal reforms and current operational realities.

“The core objectives of transparency, efficiency and accountability that shaped NEITI’s advocacy for the PIA are being advanced through this directive,” he noted.

He reiterated the agency’s commitment to collaborate with anti-corruption institutions, development partners and other stakeholders to deepen reforms and ensure the transparent, accountable and efficient management of Nigeria’s extractive resources for the benefit of all federating units and citizens.

Analysts say the Executive Order, if effectively implemented, could significantly boost government revenues, reduce opacity in oil remittances and improve fiscal stability at a time when Nigeria is intensifying efforts to strengthen its public finance framework.

By Ambrose Nnaji

The Managing Director of TotalEnergies Exploration and Production Nigeria Limited, Mathieu Bouyer, has reaffirmed the company’s commitment to expanding Nigeria’s energy supply while steadily lowering the carbon intensity of its operations.

Bouyer spoke during a panel session titled “Capitalising on Africa’s Global Upstream Momentum” at the Nigeria International Energy Summit (NIES) 2026 in Abuja, where industry leaders examined evolving investment trends and emerging opportunities across Africa’s oil and gas sector.

He said TotalEnergies’ strategy in Nigeria is anchored on two core pillars: growing oil and gas production and expanding electricity generation through integrated power solutions—aligned with the company’s global ambition of delivering more energy with fewer emissions.

“Our strategy is about growing energy as a whole,” Bouyer said, stressing that Nigeria remains a strategic market within TotalEnergies’ global portfolio, even as countries across Africa compete for upstream investment capital.

According to him, the company’s immediate focus is on maximising value from existing assets, spanning onshore gas and offshore oil and gas developments. He cited the recently sanctioned Ubeta Gas Project, expected to deliver up to 300 million cubic feet of gas per day, alongside several additional projects currently under evaluation.

On sustainability, Bouyer disclosed that TotalEnergies has eliminated routine gas flaring across all its Nigerian operations since 2023, marking a major milestone in its emissions-reduction drive. He added that the company has deployed advanced methane-detection technologies, including its proprietary AUSEA system, designed for real-time emissions monitoring and rapid intervention.

In addition, he said TotalEnergies EP Nigeria has installed over 2,500 Permanent Emission Monitoring Systems (PEMS) across its production sites nationwide.

Bouyer also announced plans to commission a five-megawatt solar power plant at OML 58 to supply electricity to the Ubeta Gas Project, describing it as one of the world’s first near-net-zero gas developments.

He underscored the importance of partnerships with indigenous companies, describing collaboration with local operators as critical to accelerating project execution and unlocking broader economic value.

Bouyer cited long-standing joint ventures with AMNI, Conoil, and Sapetro, pointing to flagship assets such as Egina FPSO and Akpo Condensate as examples of successful collaboration between international and indigenous operators. He also disclosed ongoing deep-offshore appraisal work with Conoil and planned exploration drilling with Sapetro.

“When we work with local partners, it enables us to move faster and create value—not just for ourselves, but for the country,” he said.

Bouyer and members of his management team also engaged with students at the summit, reinforcing TotalEnergies’ focus on knowledge transfer, skills development, and nurturing the next generation of energy professionals.

By Ambrose Nnaji

The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a practical framework to position Nigeria’s energy sector for preferential access to the African Continental Free Trade Area (AfCFTA), outlining how local operators can meet rules-of-origin requirements and compete across the continent.

The framework was presented during a pre-conference webinar held ahead of the Nigeria Local Content AfCFTA Energy Summit scheduled for February 9. The virtual engagement brought together stakeholders from the oil and gas, power and renewable energy sectors to examine how Nigerian products and services can qualify for preferential trade across 54 African countries with a combined gross domestic product of about $3.4tn and a population of 1.4 billion.

Titled “Meeting AfCFTA Origin Requirements in Energy Trade”, the webinar addressed one of the major hurdles facing Nigerian exporters under AfCFTA: structuring production and operations to satisfy origin requirements that determine eligibility for duty-free and preferential market access.

The initiative, supported by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, and the Acting Director of Planning, Research and Statistics, Ene Ette, forms part of preparations for the Nigeria Local Content AfCFTA Energy Summit themed “Unlocking Africa’s Energy Future through AfCFTA: Trade, Innovation and Regional Integration.”

Speaking at the session, communications analyst Joseph Nwokedi, representing the Acting National Coordinator of Nigeria’s AfCFTA Coordination Office, Patience Okala, emphasised the central role of energy in Africa’s economic integration agenda. He urged Nigerian firms to look beyond the domestic market of about 200 million people and position for the wider continental market.

“Without energy, there is no industrialisation. Without energy, regional value chains remain aspirational,” Nwokedi said. “Under AfCFTA, energy shifts from being a domestic infrastructure issue to a tradable, investable and exportable sector within an integrated African market.”

He noted that even a one per cent penetration of the continental market represents access to about 14 million consumers, highlighting the scale of opportunity for Nigerian energy companies.

The webinar identified four key entry points for Nigeria’s energy sector under AfCFTA. These include power generation enabled by the Electricity Act 2023, which allows independent power producers to supply industrial clusters and export processing zones; the export of professional services such as engineering and energy auditing under Nigeria’s AfCFTA commitments; cross-border trade in refined petroleum products, gas derivatives, electricity and renewable energy components; and improved investment flows supported by AfCFTA’s investment protocol and recent domestic reforms.

Delivering a technical presentation, Assistant Comptroller of Customs, Burhan Sulaiman, explained that AfCFTA would progressively eliminate tariffs on 90 per cent of goods traded within the bloc over five to 10 years, with additional liberalisation thereafter. However, he stressed that these benefits are strictly tied to compliance with rules of origin.

“Many companies lose AfCFTA benefits because origin compliance is treated as an afterthought. Origin determines whether you export duty-free or pay full tariffs,” Sulaiman said.

He clarified that origin is based on where economic production occurs, not ownership or company registration, noting that foreign-owned firms producing in Nigeria can qualify as Nigerian origin, while Nigerian firms importing finished goods cannot claim AfCFTA preferences.

Sulaiman outlined two main qualification routes: wholly obtained products, such as crude oil, natural gas and locally generated electricity; and substantially transformed goods, which must meet specific criteria including value addition thresholds, tariff classification changes or prescribed industrial processes.

He warned that weak documentation and minimal processing activities remain major reasons for failed origin claims, even where products are genuinely originating.

Both speakers urged businesses to integrate origin compliance into core business strategy from the outset, rather than treating it as a regulatory formality.

“Origin is not just paperwork. It shapes investment decisions, sourcing strategies and regional partnerships,” Sulaiman said.

The webinar also provided updates on AfCFTA implementation, including progress on rules of origin negotiations, the rollout of electronic certification systems and the establishment of dispute resolution mechanisms.

Participants were encouraged to structure projects for origin compliance from inception, pursue regional joint ventures and align with continental standards to maximise opportunities under AfCFTA.

The session concluded with confirmation that the webinar served as a technical precursor to the Nigeria Local Content AfCFTA Energy Summit, which will convene policymakers, industry leaders and trade experts to chart pathways for maximising Africa’s energy potential under the AfCFTA framework.