Energy Centre Speaks on NUPRC's N5.21Trn Revenue in H1 2025 as Tinubu Assures of Improved Economy
- The Energy Policy Advancement Centre (EPAC) spoke on the NUPRC's N5.21 trillion generated revenue in the first half of 2025
- EPAC attributed the performance to strategic revenue management under Chief Executive Gbenga Komolafe, with earnings from royalties, gas sales, flared gas penalties, etc
- The development comes as President Tinubu assured Nigerians that 2025 will bring economic recovery and prosperity, predicting stronger growth, lower inflation, a stable naira, among others
Abuja, FCT – The Energy Policy Advancement Centre (EPAC) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for reportedly generating N5.21 trillion in the first half of 2025.
According to EPAC, the development is a model of strategic revenue management in the country’s oil and gas sector.
Source: UGC
In a statement signed by its director-general, Dr. Ibrahim Musa, EPAC said the result reflects the foresight, accountability, and determination of the NUPRC under its chief executive, Gbenga Komolafe.
EPAC said figures from the commission’s latest report to the Federation Accounts Allocation Committee (FAAC) show that the January–June 2025 revenue represents 42.7% of the record N12.2 trillion earned in the entire 2024 fiscal year.
It was gathered that the inflows came from royalties, gas sales, flared gas penalties, and joint venture proceeds. EPAC also noted that the commission’s strong showing came despite global oil market volatility and domestic production challenges, adding that the revenue boost strengthens Nigeria’s fiscal position at a time of significant budgetary pressure.
NUPRC: Breakdown of earnings
The NUPRC’s report highlighted key revenue components, including: N1.04 trillion from NNPC Limited joint venture and production sharing contract royalty receivables, N315.93 billion from Project Gazelle receipts in January and March 2025, and N6.60 trillion in cumulative JV royalty receivables from October 2022 to June 2025, reflecting the impact of delayed remittances from oil companies.
Musa also praised the commission’s debt recovery drive, which reportedly yielded $459,226 from outstanding obligations—part of a cumulative $1.436 billion owed from crude oil lifting contracts.
According to Musa, the commission’s rigorous reconciliation processes, carried out with the NNPC Limited and FAAC’s Technical Sub-Committee, have been instrumental in retrieving long-outstanding debts.
“Debt recovery may not make front-page headlines, but it is the backbone of fiscal discipline. Every dollar recovered helps stabilise government finances and strengthen economic resilience,” Musa stated.
2025 revenue target and outlook
The federal government has set a N15 trillion revenue target for the NUPRC in 2025. While the H1 figure represents 34.7% of this goal, EPAC believes the commission’s pace, combined with arrears recovery and potential production increases, makes the target achievable.
Musa stressed that what sets this performance apart is not just the amount generated, but also the discipline and transparency in managing the process.
“NUPRC has moved beyond passive regulation to active value generation. This is the kind of institutional energy Nigeria needs—one that sees targets as opportunities to innovate and excel,” he added.
EPAC urged oil companies and relevant agencies to align with the commission’s momentum by ensuring timely payments, strict compliance with regulations, and support for upstream investments.
“We are in an era where every revenue stream matters. With the right cooperation, the N15 trillion target can be met, or even surpassed,” Musa said.
Source: Facebook
Economic reforms: Tinubu sends message to Nigerians
Meanwhile, Legit.ng previously reported that President Bola Ahmed Tinubu assured Nigerians that 2025 will bring about economic recovery and prosperity following a challenging 2024.
According to Tinubu, there will be an increase in economic growth, the inflation rate will drop, and there will be a stable naira-to-dollar exchange rate.
The president cited several economic indicators, such as declining fuel prices, a strengthened naira, and consecutive quarterly foreign trade surpluses for optimism.
Source: Legit.ng
