The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have agreed to deepen their collaboration to strengthen transparency and accountability in the collection of oil and gas revenue.
The resolution followed a meeting between the NUPRC’s Commission Chief Executive (CCE), Mrs. Oritsemeyiwa Eyesan, and the NRS Chairman, Dr. Zacch Adedeji, at the NRS headquarters in Abuja on Wednesday.
Eyesan, according to a statement by the NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, commended Adedeji for driving the reforms that led to the enactment of the NRS Act and said the transfer of revenue collection responsibilities between the two agencies had gone smoothly.
She also highlighted NUPRC’s efforts to create an enabling environment for operators in the oil and gas industry, saying the Commission’s goal was to help businesses survive and succeed so the wider industry could grow.
“We are here to enable them, enable their businesses, ensure that they survive, they succeed. And we want to grow the pie because when you grow the pie, everybody benefits,” she said.
Eyesan disclosed that Nigeria had the potential to produce 1.9 million barrels per day having hit a peak production of 1.86mbpd in May.
“We are back to production. We are ramping up now, and we want to continue working,” she noted. “We still recognise the constraints. Infrastructure and asset integrity are major constraints, but we will work on these. Even the human capacity in the industry, we see that because if we want to grow, we must also grow that capacity to meet the demands.”
The CCE also disclosed that one of the key targets upon assuming office was the digitisation of NUPRC’s operations, a goal she said has largely been achieved.
In his response, the NRS chairman praised the Commission for its dynamism, professionalism and transparency.
He pledged continued collaboration with the Commission, particularly on matters relating to the transfer of revenue collection functions under the new Act.
Adedeji said, “It is in the interest of Nigeria that we work together to grow revenue for the country in a transparent manner for the good of Nigerians. So, there is no way we would do something to jeopardise the progress or sustainability of another agency.
“I collect revenue. I don’t generate revenue. Wherever revenue is, I work on it and keep an account for you. So, I’m helping you to collect your royalties.”
He promised that the NRS would continue to support the Commission in order to achieve their shared objective of increasing government revenues in a fair, transparent and sustainable manner.
