Upstream Petroleum Regulator Remits N7.1trn Revenue In 8 Months

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted a full of N7.1 trillion to the Federation Account successful the archetypal 8 months of 2025.

The remittance underscored NUPRC’s captious relation successful gross mobilisation from Nigeria’s upstream lipid and state sector.

This is was revealed during the NUPRC’s presumption astatine the Federation Account Allocation Committee (FAAC) gathering connected September 17.

According to the report, the NUPRC transferred N745.2 cardinal to the Federation Account successful August alone, achieving 61.85 percent of its monthly people of N1.2 trillion.

The August remittance showed a 3.05 percent summation compared to the N723.1 cardinal recorded successful July, indicating humble but dependable progress.

Breaking down the August collections, lipid and state royalties constituted the largest stock astatine N682.28 billion, followed by state flare penalties amounting to N52.9 billion.

Rentals, licenses, and miscellaneous revenues contributed an further N10 billion.

All funds collected were duly forwarded to the Federation Account arsenic mandated by law.

From January to August 2025, the cumulative transfers coordinated by the Central Bank of Nigeria (CBN) amounted to N5.47 trillion, portion of the full N7.1 trillion gross show that encompasses associated task royalties, Production Sharing Contract (PSC) receipts, and payments nether Project Gazelle—a semipermanent crude lipid accumulation agreement.

Despite these achievements, the NUPRC’s study besides highlights challenges that proceed to impact the industry’s gross flow. Structural issues specified arsenic pipeline vandalism, crude theft, and method constraints person hampered accumulation levels.

Furthermore, fluctuating planetary crude lipid prices person introduced fiscal uncertainties, complicating gross forecasting and postulation efforts.

Significant outstanding payments stay a concern. Project Gazelle royalties for December 2024, arsenic good arsenic for February, July, and August 2025, were not remitted successful August.

The study besides notes an unpaid sum of N6.61 trillion successful associated task royalties owed by the Nigerian National Petroleum Corporation (NNPC) betwixt October 2022 and August 2025, signaling the request for stronger compliance enforcement and monitoring.

The NUPRC besides said it has made advancement successful recovering immoderate overdue debts, collecting $41.89 cardinal successful August from cumulative amounts owed by PSCs, Deep Offshore and Inland Basin Contracts, and Risk Service Contracts.

However, $1.42 cardinal remained outstanding, highlighting the persistence of gross betterment challenges.

The NUPRC’s important remittances implicit the 8 months bespeak ongoing efforts to prolong Nigeria’s fiscal basal contempt upstream operational and compliance hurdles.