**Buhari's Successor Tinubu's Big Move: New Guidelines for Oil Money** Nigeria's President Bola Ahmed Tinubu has made a significant move in the oil and gas sector with the introduction of a new system for the payment of petroleum revenues. Contractors in the industry have been given a transition period to adapt to the new directive, which will see revenues paid directly into the Federation Account. This move has received the backing of Nigerian governors, who see it as a step in the right direction towards strengthening the management of petroleum revenues and enhancing fiscal transparency. The new system is aimed at safeguarding public funds and ensuring that the country gets the revenue it deserves. The Implementation Committee for Executive Order 9, chaired by Minister of Finance Wale Edun, has agreed on a transition period that will allow the new system to be introduced without disrupting existing contractual and financing arrangements in the oil sector. Edun explained that the committee wants to maintain investor confidence while protecting Nigeria's revenue base. During this transition period, existing payment arrangements will remain in place until detailed operational guidelines are released. A technical subcommittee has been set up to prepare a framework for the transition and will also review the Petroleum Industry Act (PIA) to address structural and fiscal issues affecting revenues. The PIA review will be led by Mrs. Olu Verheijen, the Special Adviser to the President on Energy, and is expected to take three weeks to complete. This move is seen as a positive step towards ensuring that Nigeria gets the most out of its oil resources. The new guidelines aim to bring about a more transparent and accountable system for managing petroleum revenues. With the backing of governors and the approval of the Implementation Committee, it's clear that this move is a big step towards a more sustainable future for Nigeria's oil and gas sector. In conclusion, President Tinubu's Executive Order 9 is a significant move towards strengthening the management of petroleum revenues and enhancing fiscal transparency. The transition period will allow contractors to adapt to the new system, and the review of the PIA will help address structural and fiscal issues affecting revenues. This is a positive step towards a more sustainable future for Nigeria's oil and gas sector.