Michael Eboh
Dublin, Ireland — Nigeria earned N1.31 trillion from the petroleum industry in September 2025, dropping sharply by 36.62 per cent, from N2.067 trillion recorded in August 2025, according to reports from the Federation Account Allocation Committee (FAAC).
According to the reports presented by the Central Bank of Nigeria (CBN) to FAAC, the country’s earnings from the oil and gas industry in September 2025 represented 98.5 per cent of the budgeted amount of N1.333 trillion.
Providing a breakdown of earnings from the oil and gas industry in September 2025, the CBN noted that the country earned N100.105 billion from crude oil sales, rising by 10.03 per cent compared with N90.98 billion in August 2025; revenue from gas sales stood at N9.135 billion, dropping by 35.98 per cent compared with N14.269 billion in August 2025.
The country’s apex financial sector regulator added that revenue from crude oil royalties stood at N640.056 billion in September 2025, rising by 10.24 per cent compared with N580.574 billion earned from crude oil royalties recorded in the previous month.
Furthermore, earnings from miscellaneous oil revenue rose to N4.77 billion in the month under review, from N1.246 billion recorded in August 2025; while revenue from gas royalties stood at N18.776 billion, dropping by 10.21 per cent compared with N20.911 billion recorded in August 2025.
The CBN added that the country earned N69.082 billion from gas flare penalties in September 2025, up from N58.234 billion recorded in the previous month; while revenue from companies’ income tax from upstream oil industry operators stood at N19.299 billion, compared with N364.829 billion in August 2025.
The CBN also noted that revenue from Petroleum Profit Tax (PPT) stood at N283.214 billion; rentals – N2.946 billion, while taxes stood at N162.434 billion in September; as against N272.237 billion, N1.568 billion and N641.682 billion, respectively, in August 2025.
From the earnings, the CBN reported that N25 billion was allocated to the National Executive Council Ad-Hoc Committee on Crude Oil Theft Prevention and Control in the month under review; while N29.679 billion was received by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), being four per cent cost of collection.
Also, the CBN disclosed that N66.319 billion was transferred to the Midstream and Downstream Gas Infrastructure Fund from gas flared penalties; while N100 billion and N150 billion was allocated for 13 per cent derivation refund on withdrawals from joint venture cash call, and 13 per cent Nigerian Liquefied Natural Gas (NLNG) refund to oil-producing states.
Furthermore, the CBN revealed that N20.523 billion was deducted from the country’s oil earnings in September 2025 by the Nigerian National Petroleum Corporation Limited (NNPCL), being its 13 per cent management fee and frontier exploration fund; while N18.163 billion was deducted for 13 per cent refund on subsidy, priority projects and Police Trust Fund from 1999 to 2021.
