The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a N5.2 trillion revenue, generated from January to June 2025. This is 34.7% of the N15 trillion revenue target set by the Federal Government for the Commission.
The total sum, according to the Commission, is inclusive of Nigerian National Petroleum Company Ltd Jonit venture & PSC Royalty receivables of N1.04 trillion for the period of January to June 2025 and project gazelle receipt of N315.93 billion for November 2024 (received in January 2025), January and March 2025.
According to the Commission’s Report submitted at the Federation Accounts Allocation Committee meeting in July, there were no receipts due for December 2024, February, April, May and June 2025 for Project Gazelle Royalty.
