OPERATION HADIN KAI FOILS TERRORIST INFILTRATION, DISRUPTS LOGISTICS NETWORKS, ARRESTS COLLABORATORS. (PHOTOS). #PRESS RELEASE

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 OPERATION HADIN KAI FOILS TERRORIST INFILTRATION, DISRUPTS LOGISTICS NETWORKS, ARRESTS COLLABORATORS The Joint Task Force (North East) Operation HADIN KAI (OPHK) has recorded significant operational successes in its ongoing counterterrorism and counterinsurgency campaign across the North-East. Through a combination of offensive operations, intelligence-led actions, and collaboration with local security stakeholders, troops successfully foiled a terrorist infiltration attempt and disrupted terrorist logistics and support networks, further degrading the operational capabilities of insurgent groups in the Theatre. In Borno State, troops responded swiftly to the sighting of terrorists advancing toward the North East Theatre Training School, Buni Yadi, at about 9:00 a.m. on 9 June 2026. Employing coordinated and precise fire missions, the troops neutralized the threat and denied the terrorists freedom of action. Subsequent exploitation of the area led to the recovery of two terrorist c...
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FG STOPS NNPC DEDUCTIONS; ORDERS DIRECT OIL PAYMENTS TO FEDERATION ACCOUNT. (PHOTO).

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FG Stops NNPC Deductions; Orders Direct Oil Payments To Federation Account

The Federal Government has taken steps to tighten control over the country's petroleum revenues, following the inaugural meeting of the Implementation Committee for Executive Order 9, signed by President Bola Ahmed Tinubu.

Key decisions reached include stopping NNPC Limited from collecting the 30% management fee and 30% frontier exploration fund deductions from profit oil and gas under Production Sharing Contracts with immediate effect. Gas flare penalties remittances into the Midstream and Downstream Gas Infrastructure Fund have also been suspended.

Contractors will now make direct payments of profit oil, royalty oil, and tax oil into the Federation Account, but with a transition period to respect existing contracts and maintain investor confidence, while a Technical Subcommittee has been set up to develop guidelines for the transition and review the Petroleum Industry Act to address revenue weaknesses.

The Implementation Committee, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured stakeholders of continued coordination and regular updates while commending their cooperation in ensuring that Nigeria’s petroleum resources yield greater benefits for citizens nationwide.

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