Business
NUPRC and NRS Collaborate to Boost Oil Revenue Collection
NUPRC and NRS launch collaboration to strengthen oil and gas revenue collection under new 2026 tax laws
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, and the Nigeria Revenue Service, NRS, have announced a strategic collaboration aimed at enhancing federal revenue collection from the oil and gas sector.
Also read: NUPRC dismisses oil block licensing irregularity claims, assures transparency
The announcement followed a meeting between NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, and NRS Chairman, Mr. Zacc Adedeji, at the agency’s headquarters in Abuja.
The engagement marked part of Mrs. Eyesan’s initial outreach to key stakeholders since her appointment as NUPRC Chief Executive last month.
According to Mr. Eniola Akinkuotu, Head of Media and Strategic Communications at NUPRC, the agencies are expected to work closely under the new tax laws, which came into effect on January 1, 2026.
The collaboration is designed to ensure more efficient revenue collection from Nigeria’s upstream petroleum sector.
During the meeting, both regulators agreed to harmonise their processes and share relevant data to meet the government’s revenue targets.
Mrs. Eyesan emphasised that the joint effort would strengthen compliance and support national development objectives.
Mr. Adedeji highlighted that enhanced coordination between NUPRC and NRS would reduce inefficiencies in revenue mobilisation while fostering transparency in the sector.
Also read: Nigeria launches $10bn petroleum licensing round to boost production
Officials said the collaboration would also involve regular stakeholder engagement and the use of digital tools to monitor compliance, reflecting a commitment to modernising regulatory oversight and financial accountability.
President Bola Tinubu has reaffirmed the Federal Government’s commitment to rehabilitating and repositioning Nigeria’s dormant national refineries, declaring that the facilities will not be allowed to become stranded assets.
Tinubu was represented by the Permanent Secretary of the Ministry of Petroleum Resources, Mrs Patience Oyekunle, at the 20th OTL Africa Downstream Energy Week in Lagos on Monday.
The President said the government is adopting a more rigorous and commercially sustainable approach to the rehabilitation of the Port Harcourt, Warri and Kaduna refineries.
“At the same time, the government remains committed to ensuring that existing national refining assets are not allowed to become stranded investments,” the statement said.
“We are pursuing a more rigorous, commercially sustainable approach to the rehabilitation and repositioning of our refineries, supported by technical assessment, stronger partnerships, and improved operational discipline.”
The objective, according to the administration, is for Nigeria to refine more of its crude oil, create greater domestic value and become a reliable supplier of energy to Africa.
The national refineries, managed by the Nigerian National Petroleum Company Limited (NNPC), have remained largely inactive for years despite significant spending on turnaround maintenance. The NNPC has signed a memorandum of understanding with Chinese firms as part of ongoing efforts to revive the facilities.
Tinubu also noted the contribution of private refining capacity, particularly the Dangote Refinery, which has reached its 650,000 barrels-per-day nameplate capacity, in strengthening Nigeria’s prospects of becoming a net exporter of refined petroleum products.
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