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Nigeria’s drive to boost oil production and increase government earnings received a fresh boost yesterday as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) pledged closer cooperation to strengthen the collection of oil and gas revenues.
Speaking during a meeting with the Chairman of the NRS, Mr Zacch Adedeji, at the agency’s headquarters in Abuja, the Commission Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, disclosed that Nigeria was steadily ramping up crude oil production and could attain output of 1.9 million barrels per day.
According to her, the country recorded a peak production level of 1.86 million barrels per day in May, reflecting ongoing efforts to revive output from oilfields and address operational bottlenecks.
“We are back to production. We are ramping up now and we want to continue working,” Eyesan said.
She, however, acknowledged that infrastructure deficiencies and ageing assets remain major constraints to sustained production growth.
“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,” she stated.
Eyesan said the Commission’s strategy goes beyond regulation to creating an enabling environment for investors and operators to expand their businesses and increase industry-wide value creation.
“We are here to enable them, enable their businesses, ensure that they survive and succeed. We want to grow the pie because when you grow the pie, everybody benefits,” she added.
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The NUPRC boss also revealed that one of the major reforms undertaken by the Commission has been the digitisation of its operational processes, a move she said has significantly improved efficiency and transparency.
On the transfer of revenue collection responsibilities under the newly enacted Nigeria Revenue Service Act, Eyesan described the transition process as seamless, while commending Adedeji for championing reforms that led to the establishment of the NRS.
Also speaking, Adedeji stressed that effective collaboration between revenue-generating and revenue-collecting agencies would be critical to improving government finances.
“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,” he said.
He clarified that while the NRS is responsible for collecting revenues, agencies such as the NUPRC remain central to generating those revenues through effective regulation of the oil and gas sector.
“I collect revenue; I don’t generate revenue. Wherever revenue is, I work on it and keep an account for you. So, I am helping you to collect your royalties,” Adedeji said.
The NRS chairman pledged continued support for the Commission as both agencies work towards increasing government revenues through improved compliance, transparency and sustainable growth in the petroleum industry.
