The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) remitted a complete of N7.1 trillion to the Federation Account within the first eight months of 2025.
The remittance underscored NUPRC’s crucial position in income mobilisation from Nigeria’s upstream oil and gasoline sector.
That is was revealed in the course of the NUPRC’s presentation on the Federation Account Allocation Committee (FAAC) assembly on September 17.
In line with the report, the NUPRC transferred N745.2 billion to the Federation Account in August alone, reaching 61.85 % of its month-to-month goal of N1.2 trillion.
The August remittance confirmed a 3.05 % enhance in comparison with the N723.1 billion recorded in July, indicating modest however regular progress.
Breaking down the August collections, oil and gasoline royalties constituted the biggest share at N682.28 billion, adopted by gasoline flare penalties amounting to N52.9 billion.
Leases, licenses, and miscellaneous revenues contributed an extra N10 billion.
All funds collected had been duly forwarded to the Federation Account as mandated by regulation.
From January to August 2025, the cumulative transfers coordinated by the Central Financial institution of Nigeria (CBN) amounted to N5.47 trillion, a part of the overall N7.1 trillion income efficiency that encompasses three way partnership royalties, Manufacturing Sharing Contract (PSC) receipts, and funds below Mission Gazelle—a long-term crude oil manufacturing settlement.
Regardless of these achievements, the NUPRC’s report additionally highlights challenges that proceed to have an effect on the trade’s income circulation. Structural points similar to pipeline vandalism, crude theft, and technical constraints have hampered manufacturing ranges.
Moreover, fluctuating world crude oil costs have launched fiscal uncertainties, complicating income forecasting and assortment efforts.
Vital excellent funds stay a priority. Mission Gazelle royalties for December 2024, in addition to for February, July, and August 2025, weren’t remitted in August.
The report additionally notes an unpaid sum of N6.61 trillion in three way partnership royalties owed by the Nigerian Nationwide Petroleum Company (NNPC) between October 2022 and August 2025, signaling the necessity for stronger compliance enforcement and monitoring.
The NUPRC additionally mentioned it has made progress in recovering some overdue money owed, amassing $41.89 million in August from cumulative quantities owed by PSCs, Deep Offshore and Inland Basin Contracts, and Danger Service Contracts.
Nonetheless, $1.42 billion remained excellent, highlighting the persistence of income restoration challenges.
The NUPRC’s substantial remittances over the eight months replicate ongoing efforts to maintain Nigeria’s fiscal base regardless of upstream operational and compliance hurdles.
