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Energy watchdog hails NUPRC’s N12.25tn revenue performance, credits Komolafe’s reforms
The Energy Governance Alliance (EGA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for generating a record N12.25 trillion in revenue in 2024, describing it as a testament to the commission’s regulatory reforms and strategic leadership under Chief Executive, Gbenga Komolafe.
In a statement issued on Tuesday and signed by its Executive Director, Dr Kelvin Sotonye William, the alliance said the revenue achievement marked a watershed moment in Nigeria’s oil and gas sector, affirming NUPRC’s central role in repositioning the upstream industry for value creation, fiscal accountability and national development.
The figure, disclosed in the commission’s newly released 2024 Annual Report, represents a 182.25 percent increase from the N4.34 trillion generated in 2023. It also significantly surpassed the 2024 forecast revenue of N6.93 trillion by over N5 trillion.
“The Energy Governance Alliance welcomes the stellar performance of the NUPRC, under the visionary stewardship of Mr Gbenga Komolafe, for generating over N12 trillion in 2024 — the highest ever recorded in a single year in Nigeria’s upstream sector,” the statement reads.
“This performance is not accidental. It reflects sustained policy clarity, increased compliance, and a bold enforcement posture on critical issues such as royalty payments, gas flare penalties and lease renewals. These are the very foundations of energy justice, and we applaud the Commission for restoring regulatory credibility in a sector long plagued by opacity and inefficiency.”
EGA said the unprecedented revenue inflow has “revalidated the Petroleum Industry Act (PIA) 2021 as a working framework for revenue optimisation, investor discipline and upstream transparency”, adding that the Komolafe-led NUPRC had broken new ground in actualising the fiscal and institutional aspirations of the landmark law.
According to the commission’s breakdown, oil and gas royalties alone accounted for N11.08 trillion in 2024 — nearly twice the projected figure — while gas flared penalties brought in N391.26 billion, and concession rentals fetched N23.71 billion. Other key revenue lines included N369.57 billion from signature bonuses, N230.73 billion from lease renewals, N35.19 billion in miscellaneous income, and N117.02 billion from goods and valuable consideration.
Reacting to the figures, Dr William said the scale and spread of the revenue performance demonstrated a “whole-of-sector approach” that has closed long-standing loopholes and challenged entrenched rent-seeking behaviour.
“For the first time in recent memory, we are seeing a regulator extract value from multiple pressure points across the upstream system — from flare penalties to lease administration. This is what it means to govern oil in the public interest,” he said.
EGA urged other agencies in the oil and gas ecosystem to emulate NUPRC’s results-oriented culture, noting that the commission’s transparency in publishing unreconciled production volumes, average daily outputs, and compliance with the technical allowable rate (TAR) regime was “a welcome deviation from the era of secrecy”.
The report had revealed that total crude production in 2024 stood at 578.5 million barrels — comprising 482.8 million barrels of oil and 95.7 million barrels of condensate — with a daily average output of 1.58 million barrels per day. Joint ventures contributed 48 percent of the production, followed by production sharing contracts at 35 percent, sole risk operations at 13 percent, and marginal fields at 4 percent.
The alliance also welcomed NUPRC’s disclosures on the TAR, which stood at 67 percent in 2024, and urged further collaboration with industry players to raise efficiency levels.
“This is not just about revenue. It’s also about regulatory honesty. By publishing unreconciled volumes and clarifying that they are not to be mistaken for export figures, NUPRC has sent a strong message that it is no longer business as usual. This level of transparency is key to improving investor confidence and public trust,” William said.
EGA said it was particularly impressed with the commission’s performance in gas flare penalties and lease renewals, which surpassed their 2024 projections by over 200 percent, indicating renewed rigour in enforcement.
It noted that N391 billion was realised from gas flaring penalties, compared to a projected N126 billion, while lease renewals brought in N230.73 billion, almost three times the forecasted N80.63 billion.
“Gas flaring is an ecological crime and an economic waste. The fact that penalties have become a major revenue item shows the Commission’s zero-tolerance stance. We expect this to further push operators towards cleaner and more responsible energy production,” the alliance added.
The alliance urged the Federal Government to channel a significant portion of the NUPRC’s revenue surplus into supporting host communities, funding clean energy transitions and closing infrastructure gaps in the Niger Delta.
“Komolafe’s performance shows that Nigeria’s oil sector can deliver both revenue and reform — if we prioritise competence, clarity and courage. The Energy Governance Alliance urges President Bola Ahmed Tinubu to continue backing such reforms and ensure that the NUPRC remains insulated from political interference,” the statement concluded.
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Brazil Beat Haiti 3-0, Boost Knockout Hopes
Brazil strengthened their chances of advancing to the knockout stage of the World Cup with a commanding 3-0 victory over Haiti today. The South Americans delivered a disciplined performance, combining attacking flair with defensive solidity to secure three crucial points.
From the opening whistle, Brazil imposed themselves on the match. Their midfield trio dictated tempo, recycling possession and stretching Haiti’s defensive lines. Within the first 15 minutes, Brazil’s pressure paid off when striker Gabriel Silva converted a low cross from the right flank, giving his side an early lead.
Despite conceding early, Haiti showed resilience. They tightened their defensive shape and attempted to hit Brazil on the counterattack. Winger Jean-Pierre Louis tested Brazil’s goalkeeper with a sharp effort from distance, but the shot was comfortably saved. Haiti’s determination kept the scoreline respectable through much of the first half.
Brazil doubled their advantage just before halftime. Midfielder Lucas Andrade unleashed a curling shot from outside the box, leaving Haiti’s goalkeeper rooted to the spot. The strike highlighted Brazil’s technical superiority and gave them a cushion heading into the break.
In the second half, Brazil maintained control. Their passing sequences frustrated Haiti, who struggled to regain possession. Brazil’s third goal came in the 70th minute when substitute forward Rafael Costa capitalized on a defensive lapse, slotting the ball calmly into the net. The goal sealed the contest and allowed Brazil to manage the closing stages with confidence.
Brazil’s coach emphasized balance, ensuring the team did not overcommit forward. The defensive line remained compact, neutralizing Haiti’s attempts to break through. This tactical discipline prevented Haiti from creating clear chances and underscored Brazil’s maturity in tournament play.
Although Haiti failed to score, their effort was commendable. The team fought hard, pressing when possible and showing flashes of creativity. However, the gulf in quality was evident, particularly in midfield battles where Brazil consistently regained control.
The victory places Brazil in a strong position in their group. With six points from two matches, they are now favorites to progress to the knockout stage. The team’s blend of youth and experience appears to be clicking at the right time, raising hopes among supporters for a deep run in the tournament.
Brazil will face a tougher test in their next fixture against a European opponent. The team must maintain focus and continue refining their attacking transitions. For Haiti, the defeat complicates their path forward, but they remain mathematically alive. Their next match will be decisive in determining whether they can keep their World Cup dream aliv
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Bosnia Crushed By A Merciless Switzerland Machine
Switzerland were in imperious form today as they blew Bosnia away in the group stage game of the World Cup in what was a dominant and uncompromising offensive masterclass from the Swiss. Switzerland played at a frightening speed, executed a crisp passing game and proved ruthlessly efficient in front of goal.
Switzerland began in the ascendancy and looked eager to press and control the game from the start, and after only two minutes had Bosnia backed into a corner of their own half.
They kept the ball well and at speed, and the Swiss looked eager to push the Bosnia defence wider as the game started. Within the first 15 minutes, Switzerland had already tested the Bosnian goalkeeper with two powerful shots.
The breakthrough came after halftime. With an attack moving quickly, the Bosnian back line is open, leaving the Swiss attacker in a clear scoring position.
The ball slides calmly to the net to give the Swiss a much-deserved lead. It was a game where Bosnia was struggling deep in their own territory as they were being pushed to the limit.
A counterattack was their goal, but it fell flat as they tried to do something but couldn’t get it right. They’ve isolated their forwards, and the midfield has failed to connect up the game. A long-range shot was their closest call, but the Swiss goalie wasn’t going to do it then and there.
Their inability to generate consistent pressure against Switzerland made them play from a defensive mindset. The double-goal advantage came just before the half as Switzerland was in top-notch form with another incisive approach that will make all opponents fear them.
With a pass from the left, their winger managed to score an ideal goal and also showing that any of their forwards are available to find the open space and punish you against defensive error.
The Swiss reached the break, well deserved of it, and mentally depleted from the opponent as Bosnia’s score reached 0 goals for their team. The Swiss were ready to continue this show.
They played like nothing was about to change and continued with their forward aggression. Switzerland’s offense began to work relentlessly, generating forced errors and, consequently, chances to create another goal for them.
Three goal came via another header, which smashed Bosnia’s defence to send the ball home. After Bosnia had their fourth goal scored against them, the game became so one sided as the Swiss were simply walking through the Bosnian team’s defence without issue. Bosnia seemed unable to match their opponents for any level of performance.
After the game reached its conclusion and Switzerland was victorious, the Swiss have many good performers to recognize. The team’s captain was influential as he seemed to control the whole pitch from his central midfield role. He was vocal, directed plays, and seemed to pump his teammates up with great performance throughout. For the Bosnia team, the keeper may be recognized. Although there may have been many goals scored against his team he seemed to be playing very well to be stopping every other chance by a Swiss attacking team.
They played from a back foot throughout the game as if all their play was being played as if it were defense but when a chance to attack came, they failed. The Swiss may well deserve the win as they showed a complete game.
The Swiss coach was at his best on the sidelines as he made the appropriate personnel changes and substitutions throughout the game that help Switzerland find success and continue their winning ways in the tournament. The group implications seem fairly obvious. Switzerland have improved their standings and appear to be in a strong position to qualify from their group.
Bosnia’s hopes look a lot less favorable and they really have to pick it up. Overall it seems Switzerland dominated Bosnia and a 4–0 defeat was entirely deserved from the Bosnian team.
Switzerland came ready for this game and put it on display through skillful passing, a powerful forward attack, and some incredible play on both ends of the pitch and as their Coach did in the press conference, this was a statement.
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Judicial Battle Reboots Kwara ADC’s 2027 Election Machinery
The Kwara State chapter of the African Democratic Congress (ADC) has converted a recent legal threat into a political launchpad. Following an appellate court victory that halted an attempt to deregister the party, the Kwara ADC has declared its full readiness to contest the 2027 general elections.
A Federal High Court judgment by Justice Peter Lifu originally ordered the Independent National Electoral Commission (INEC) to deregister the ADC along with four other opposition parties.
The decision was met with an outcry by opposition coalition who alleged the judicial action was another manipulative scheme to cripple opposition politics in the nation and give an unearned leap to ruling parties for the 2027 election cycle.
The “threat however, disappeared into thin air as the Court of Appeal in Abuja swung into action and delivered a strong rebuff on the lower court. A stay of execution of the deregistration order was issued by the Court of Appeal.
Experts and political leaders in opposition said the lower court’s ruling had contravened judicial hierarchy as courts above had already issued a stay of proceedings. It has returned to status quo, following the successful legal defence as the Kwara State chapter of the ADC has called an emergency State Executive Committee meeting at its State Secretariat, Ilorin.
Party stakeholders have already turned the page from the legal battle to an intensive grassroots mobilisation as party structures have been instructed to get set for the next election cycle.
“This issue, while appearing like a setback, has only united us more than before,” said the Kwara State Chairman of ADC, Babatunde Muhammed, who assured that “
The Court of Appeal intervention in our case has revived my confidence in the country’s judicial system, and that you cannot simply rubbish an existing political movement because you have access to some judges.
We remain unruffled” he added. Consequently, all ADC Candidates and ward executives in Kwara State have been tasked to commence voter outreach immediately with a unit-by-unit grassroots mobilisation plan that aims to put the current ruling party on the defensive by articulating how the ADC platform and agenda contrast with the performance of the incumbent administration.
The new approach of Kwara ADC will focus primarily on local security issues, fiscal and economic management and ensuring a free and fair electoral system in 2027 election.
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