The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said Nigeria has the potential to produce 1.9 million barrels per day (bpd) having hit a peak production of 1.86mbpd in May.

NUPRC Commission Chief Executive (CCE), Mrs Oritsemeyiwa Eyesan who spoke during a meeting with the Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, at the NRS headquarters in Abuja, yesterday, said the country is fully back on oil production.

“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 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,” Mrs Eyesan said.

The CCE also said one of the key targets upon assuming office was the digitisation of NUPRC’s operations, a goal she said has largely been achieved.

During the meeting, the NUPRC and NRS agreed to deepen collaboration to promote transparency and accountability in the collection of oil and gas revenue.

According to a statement from NUPRC, 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, Eyesan said the process had been seamless.

The CCE also highlighted the Commission’s efforts at creating an enabling environment for operators in the oil and gas industry.

“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.

Responding, 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.