**Tinubu's Move to Revamp Nigeria's Oil Industry: A Bid to Boost Revenue** As Nigeria continues to grapple with economic challenges, President Bola Tinubu is set to send proposals to the National Assembly to amend certain provisions of the Petroleum Industry Act (PIA). The move is aimed at aligning the law with the country's current economic realities. According to Senator Sani Musa, Chairman of the Senate Committee on Finance, the president's proposal would address the need for increased revenue generation in the oil and gas sector. During a recent meeting with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and Economic Planning, Atiku Bagudu, Senator Musa highlighted the importance of amending the PIA to reflect the current economic landscape. He noted that many Nigerians assumed that the recent executive order mandating the direct remittance of oil and gas revenues to the Federation Account would automatically boost government revenue. However, this was not the case, and the drive to enhance revenue generation would prompt the president to propose necessary amendments to the PIA. Senator Musa's statement suggests that the executive order, signed by President Tinubu, has not yet achieved its desired outcome. The order, which scrapped the 30 per cent Frontier Exploration Fund and discontinued the 30 per cent management fee on profit oil and profit gas retained by the Nigerian National Petroleum Company Limited (NNPCL), was aimed at safeguarding oil and gas revenues, curbing excessive deductions, and restoring the constitutional entitlements of federal, state and local governments to the Federation Account. However, the decision has generated criticism from some stakeholders in the oil and gas sector. The implications of this amendment are far-reaching, and it remains to be seen how it would impact Nigeria's economy. As the National Assembly considers the president's proposal, Nigerians can expect to see significant changes in the way the country's oil and gas sector operates. The proposed amendment to the PIA is a bid to revamp Nigeria's oil industry and boost revenue generation. If successful, it could have a positive impact on the country's economy, reducing the burden on Nigerians and paving the way for sustainable development. However, the process will be closely watched, and stakeholders will be keenly interested in the outcome.