The NUPRC revenue outlook strengthened on Friday as new Federation Account records showed the Nigerian Upstream Petroleum Regulatory Commission generated N8.79 trillion between January and October 2025.
FAAC documents revealed that NUPRC revenue for October stood at N873.10 billion, a 17.67 percent increase from September’s N741.99 billion due to stronger royalty enforcement and improved data monitoring.
The commission said NUPRC revenue also includes over N1.02 trillion in NNPC Joint Venture and Production Sharing Contract royalty receivables and N835.69 billion from Project Gazelle.
It added that NUPRC revenue stability was supported by the clearance of inherited NNPC arrears totalling $1.42 billion and N5.57 trillion following presidential approval.
Despite these gains, the NUPRC revenue figure for October represented 72.47 percent of the N1.204 trillion monthly budget, reflecting pressures from low crude output and global price volatility.
The commission reported that NUPRC revenue was boosted by N807.08 billion in oil and gas royalties, rising rental income, and gas-flare penalties exceeding targets at 105.52 percent.
Public affairs analyst Ifeanyi Okonkwo said the NUPRC revenue performance shows tighter fiscal discipline and a more assertive approach to upstream regulation.
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He noted that sustained NUPRC revenue growth signals improvements in reconciliation, transparency and the closure of long-standing leakages.
Energy economist Hauwa Ibrahim said the NUPRC revenue trend demonstrates that disciplined regulation can deliver strong outcomes despite a constrained production environment.
She explained that rising NUPRC revenue points to growing structural stability driven by firmer compliance systems and predictable enforcement.
Petroleum engineer Mike Osamudiamen said the handling of legacy NNPC arrears strengthened NUPRC revenue credibility by resolving long-standing fiscal uncertainties.
He added that protecting NUPRC revenue momentum will require accurate measurement systems, closer production monitoring and uncompromising royalty enforcement.
The experts concluded that strengthening NUPRC revenue reflects a regulator increasingly aligned with the Petroleum Industry Act and driven by firmer leadership under Komolafe.
