The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened their collaboration to promote transparency and accountability in the collection of oil and gas revenue.
The NUPRC Head, Media and Corporate Communications, Eniola Akinkuotu, disclosed this in a statement on Wednesday.
Mr Akinkuotu said the resolution follows a meeting between the Commission Chief Executive (CCE) of NUPRC, Oritsemeyiwa Eyesan, and the Chairman of the NRS, Zacch Adedeji, at the NRS headquarters in Abuja on Wednesday.
In her remarks, Mrs Eyesan commended the NRS chairman for driving reforms that culminated in the enactment of the NRS Act.
Speaking on the transfer of revenue collection responsibilities, she said the process had been seamless.
Highlighting the commission’s efforts to create an enabling environment for operators in the oil and gas industry, she said: “We are here to enable them, enable their businesses, ensure that they survive, and they succeed. And we want to grow the pie because when you grow the pie, everybody benefits.”
She further revealed that Nigeria had the potential to produce 1.9 million barrels per day (mbpd), having hit a peak production of 1.86 mbpd in May.
“We are back to production. We are ramping up now, and we want to continue working. We still recognise the constraints. Infrastructure and asset integrity are major constraints, but we will work on these. Even with 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,” she added.
She said one of her key targets upon assuming office was the digitisation of NUPRC’s operations, a goal she said has largely been achieved.
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In his response, Mr Adedeji 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.
“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 said.
He promised that the NRS would continue to support the commission to achieve their shared objective of increasing government revenues in a fair, transparent and sustainable manner.
