Oil Royalties Increase by 88% Amid Govt's Revenue Boost
Oil and gas royalty collections by the Nigeria Revenue Service surged by N220.09bn in February 2026, a sharp increase of 87.6 per cent compared to January, following the implementation of Executive Order 9 mandating the centralisation...
FG Rakes in N12trn from Oil Royalties as Naira Depreciates
The Federal Government’s earnings from oil royalties and others ballooned from about N4tn to N12tn following the devaluation of the naira. This represents a 200 per cent jump in earnings to the government through its...
DPR Links $1.03bn Remittance To Oil Royalties, Legacy Debts
The Department of Petroleum Resources (DPR), has identified oil and gas royalties and legacy debts as a major contributor to its revenue generation amounting $1.03 billion remitted to the Federation Account. DPR stated that the revenue...
