FG defends EO9 oil revenue directive as constitutional
Presidency defends Executive Order 9 (EO9) as constitutional measure to safeguard oil revenues, directing all petroleum earnings including royalties, taxes, and profit oil to Federation Account. EO9 scraps Frontier Exploration Fund and NNPCL's 30% management fee, citing Sections 5 and 44(3) of 1999 Constitution. Government argues directive enforces existing revenue custody provisions, not legislative overreach. EO9 operationalizes constitutional mandates for direct remittance to Federation Account, strengthening fiscal integrity and FAAC distributions. Critics claim order contravenes Petroleum Industry Act; presidency invites judicial review. EO9 aims to curb excessive deductions and restore federal/state/local government entitlements.