Nigerian Upstream Regulator Remits ₦8.79 Trillion to Federation Account, Boosting Economy
The Nigerian upstream petroleum regulator, NUPRC, remitted ₦8.79 trillion to the Federation Account jointly managed by the federal, state, and local governments from January to October. This significant revenue inflow in October 2025 marked a 17.67% increase compared to the previous month.
The funds were sourced from various streams including royalties, gas flaring penalties, and oil revenue. The remittance provided a temporary financial boost to the government amidst fiscal pressures and exchange rate challenges.
The report also highlighted the need for efforts to stabilize production volumes and enforce compliance in the oil sector.
Plus234Feed summary based on reporting from NaijaNews. Read the original report below.
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