Centre Lauds NUPRC On Revenue Growth

The Energy Policy Advancement Centre (EPAC) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for generating N5.21 trillion in the first half of 2025, describing it as a clear demonstration of strategic revenue management in Nigeria’s oil and gas sector.

In a statement signed by its Director-General, Dr. Ibrahim Musa, EPAC said the mid-year performance under the leadership of NUPRC Chief Executive, Gbenga Komolafe, shows what is possible when regulation is matched with foresight, accountability, and determination.

Figures from the commission’s latest report to the Federation Accounts Allocation Committee (FAAC) revealed that the January–June 2025 earnings represent 42.7 per cent of the record N12.2 trillion revenue achieved in the entire 2024 fiscal year. The inflows came from royalties, gas sales, flared gas penalties, and joint venture proceeds.

EPAC noted that NUPRC’s strong showing was achieved despite the volatility of the global oil market and domestic production challenges, adding that the performance strengthens the country’s fiscal position at a time of significant budgetary demands.

“NUPRC has shown that with deliberate strategies and a results-oriented approach, Nigeria can unlock more value from its upstream petroleum sector. This is not just about impressive figures—it is about building the confidence that our institutions can deliver on ambitious national targets,” he said.