The Nigerian Upstream Petroleum Regulatory Commission has generated a total sum of N28.11bn in miscellaneous oil revenue tied to licensing fees and renewals within the first five months of 2025.
The fund collected by the commission between January and May 2025 was remitted fully to government coffers. This comes amidst the scramble by over 40 Petroleum Prospecting Licence holders to renew their exploration permits.
An analysis of data from the monthly revenue submission by the regulatory commission to the Federal Accounts Allocation Committee between January and June, obtained by The PUNCH on Sunday, showed that the commission recorded a cumulative N28.11bn in “Miscellaneous Oil Revenue” between January and May.
The commission described this category of income as revenue generated from granting approvals for various types of licences and permits. Still, it did not disclose the specific amounts earned from each source.
A breakdown of the figures reveals that the highest earnings came in April, when the regulator collected N10.04bn. This was followed by N9.19bn in January, N3.64bn in February, N2.18bn in March, and N3.04bn in May.
