The Chairman of the Forum of State Commissioners for Finance, Akintunde Oyebode, has defended President Bola Tinubu over his directive on oil revenue remittance. Speaking on Arise Television, Oyebode said there was nothing negative about the Executive Order aimed at strengthening the oil and gas sector.

He explained that the directive seeks to improve revenue collection, reduce waste, and remove duplications in the industry. According to him, the reforms are designed to channel more resources toward national development and public benefit.

Oyebode noted that the sector has recorded about $10 billion in new investments in recent years, including projects like Bonga and Bonga North. He added that improved foreign exchange liquidity and policy reforms have boosted investor confidence.

He maintained that the presidential directive, alongside tax and contracting reforms, would enhance growth and stability in the oil industry. Oyebode concluded that the move supports a better investment climate rather than harming it.