The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened partnership to enhance transparency, accountability, and efficiency in revenue collection across the nation’s oil and gas sector.
The collaboration comes at a critical juncture as Nigeria’s upstream sector shows clear signs of recovery, with the government pushing toward a sustained crude oil production target of 1.9 million barrels per day (bpd).
During a high-level meeting at the NRS headquarters in Abuja, NUPRC Commission Chief Executive Mrs. Oritsemeyiwa Eyesan and NRS Chairman Dr. Zacch Adedeji highlighted the need for a unified approach to maximise oil and gas revenue collection.
The new framework focuses on harmonizing data sharing between the regulator and the revenue agency to prevent leakages and create a seamless transition for sector investors.
Eyesan commended Adedeji for his leadership in driving reforms that led to the creation of the NRS Act, noting that the transfer of revenue collection responsibilities has progressed smoothly.
She highlighted the Commission’s efforts in creating an enabling environment for operators in the oil and gas industry.
FG Targets 1.9m bpd
According to a statement by the NUPRC Head, Media and Corporate Communications, Eniola Akinkuotu, the Commission CCE revealed that Nigeria achieved a peak production of 1.86 million barrels per day in May, with potential to reach 1.9 million bpd.
“We are back to production. We are ramping up now,” Eyesan said, while acknowledging key challenges including infrastructure integrity and human capacity development.
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Eyesan also confirmed that digitising the Commission’s operations—a key priority when she assumed office—has largely been accomplished.
On his part, Adedeji applauded the Commission for its dynamism, professionalism and transparency.
He reaffirmed the revenue agency’s dedication to supporting NUPRC, especially 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,” Adedeji stated.
“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 added.
Both agencies pledged to continue working towards increasing government revenues fairly, transparently, and sustainably.
Victor Ezeja is a Nigerian journalist skilled in producing insightful news analyses, feature stories, and interviews that simplify complex issues and drive informed public discourse. His work combines rigorous research, balanced reporting, and compelling storytelling to highlight developments shaping industries and society. Victor, who holds a Master's Degree in Mass Communication, specializes in energy, aviation, business, and economic reporting. He can be reached via @VICTOREZEJA on X