The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, and the Nigeria Revenue Service, NRS, have restated their commitment to closer collaboration aimed at improving transparency, accountability, and efficiency in the collection of revenues from the oil and gas sector.
The agencies made the commitment during a meeting between the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, and the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, at the NRS headquarters in Abuja on Wednesday.
Speaking during the engagement, Eyesan commended the leadership of the Revenue Service for spearheading reforms that culminated in the enactment of the NRS Act, describing the development as a significant milestone in the country’s revenue administration framework.
She noted that the transition of revenue collection responsibilities under the new arrangement had proceeded smoothly, reflecting the strong cooperation between both institutions.
The NUPRC chief executive also highlighted ongoing efforts by the Commission to foster a conducive operating environment for investors and operators in the petroleum industry, aimed at driving growth and increasing production.
According to her, Nigeria’s crude oil output has continued to improve, revealing that the country reached a production peak of 1.86 million barrels per day in May and has the capacity to raise output to about 1.9 million barrels daily.
In his remarks, Adedeji lauded NUPRC for its professionalism, transparency, and proactive approach to regulation, describing the Commission as a critical partner in the drive to optimise government earnings from the oil and gas sector.
He assured the Commission of the Revenue Service’s continued support, particularly in implementing the provisions of the new law governing revenue collection.
“I collect revenue; I do not generate revenue. Wherever revenue exists, my responsibility is to account for it properly and ensure it gets to government coffers. In that regard, we are supporting you in the collection of royalties,” Adedeji said.
He reiterated the NRS’s commitment to working closely with the Commission to boost government revenues while ensuring that the process remains transparent, equitable, and sustainable.
