Business
NUPRC Backs FG's Royalty Collection Shift, Justifies $3-$7 Million Signature Bonuses
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed support for the federal government's decision to move oil royalty collection from the commission to the Nigeria Revenue Service (NRS). The NUPRC also defended the signature bonus range of $3 million to $7 million for the 2025 licensing round, stating it prioritizes technical competence and development capacity over speculative bids.