Oil, Gas: Executive Order constitutional fidelity, not executive overreach – Presidency
Naija News • 6d ago
**Executive Order 9: A Constitutional Move to Safeguard Nigeria's Oil and Gas Revenue**
In a recent statement, the Director-General of the Budget Office of the Federation, Tanimu Yakubu, has clarified that Executive Order 9 (EO9) on oil and gas is a constitutional move aimed at safeguarding Nigeria's revenue. The order, which has been misinterpreted by some as an overreach of executive powers, is actually a step towards ensuring the faithful execution of the Constitution and applicable laws.
**Understanding the Constitutionality of EO9**
According to Yakubu, EO9 does not create new laws but rather enforces the existing constitutional provisions that dictate how Federation revenues should be managed. The Constitution clearly states that all revenues raised or received by the Federation must be paid into the Consolidated Revenue Fund of the Federation, where they can be properly accounted for and distributed in accordance with constitutional principles.
**No Executive Overreach, Just Constitutional Fidelity**
In essence, EO9 is not about making new laws or regulating the legislative process, but rather about ensuring that the executive branch faithfully executes the Constitution and applicable laws. The order directs that petroleum revenues, including royalties, taxes, and penalties, be remitted directly into constitutionally recognized accounts, thereby tightening reconciliation and transparency in the collection, custody, and reporting of these revenues.
**A Necessary Move for Fiscal Integrity**
Yakubu emphasizes that the judiciary remains the proper forum for determining the constitutional validity of EO9. However, pending any judicial pronouncement, the executive branch has a duty to protect Federation revenues, uphold constitutional supremacy, and strengthen fiscal integrity for the sake of FAAC distributions, budget credibility, and macroeconomic stability.
In conclusion, Executive Order 9 is not an executive overreach, but a constitutional move aimed at safeguarding Nigeria's oil and gas revenue. By enforcing the existing provisions of the Constitution, EO9 ensures that public revenue is properly managed and accounted for, thereby promoting fiscal integrity and macroeconomic stability in the country.