Experts hail NUPRC’s N8.79trn remittances, commend Komolafe’s leadership
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Three leading policy analysts and energy-sector experts have applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for generating N8.79 trillion for the Federation Account between January and October 2025, describing the performance as evidence of strengthened regulatory discipline under its Chief Executive, Engr. Gbenga Komolafe.
According to documents from the November 2025 FAAC meeting, the commission remitted N873.10 billion in October alone — representing a 17.67 per cent increase compared to September’s N741.99 billion.
The rise was attributed to firmer royalty enforcement, improved data reconciliation and enhanced monitoring of upstream activities.
FAAC records also indicated over N1.02 trillion in NNPC Joint Venture and Production Sharing Contract royalty receivables and N835.69 billion from Project Gazelle.
The commission further confirmed that, following presidential approval to “nil off” inherited NNPC arrears as of 31 December 2024, it cleared $1.42 billion and N5.57 trillion in legacy obligations.
Despite the strong numbers, the October collections represented 72.47 per cent of the N1.204 trillion monthly budget, underscoring the continuing impact of crude theft, low production, infrastructure challenges and global price volatility.
Still, the commission posted gains across key revenue streams, including N807.08 billion in oil and gas royalties, a 65 per cent rise in rental income, and gas-flare penalties that exceeded budgeted targets at 105.52 per cent.
Public affairs analyst and former National Assembly adviser, Dr. Ifeanyi Okonkwo, said the figures show a new era of fiscal discipline at the commission. “What these numbers tell us is that the NUPRC under Komolafe has finally embraced the discipline that the upstream sector has lacked for years,” he said. “The commission is no longer timid or reactive.”
Energy economist, Dr. Hauwa Ibrahim, said the results demonstrate resilience despite a constrained production environment. “A disciplined regulatory framework can still deliver strong outcomes for the federation,” she said.
Petroleum engineer, Engr. Mike Osamudiamen, hailed the clearance of inherited NNPC obligations as a major milestone. “Komolafe has restored credibility to the federation’s financial records,” he said.
The experts concluded that the performance reflects a regulator increasingly aligned with the Petroleum Industry Act and driven by strong leadership at the commission.
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