The Nigeria Revenue Service (NRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have reaffirmed their commitment to closer collaboration aimed at enhancing Nigeria’s domestic revenue generation and improving inter-agency cooperation.
This was the outcome of a courtesy visit by the Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, and her delegation to the corporate headquarters of the NRS, where they were received by the Executive Chairman of the agency, Zacch Adedeji.
The meeting provided both institutions with an opportunity to deepen their working relationship, align priorities, and explore areas of collaboration that will support the Federal Government’s revenue mobilisation agenda.
Speaking during the engagement, Adedeji emphasized the importance of professionalism, accountability, transparency, and integrity in public service, commending the leadership of the NUPRC for maintaining high standards despite the complexities of regulating Nigeria’s upstream petroleum sector.
He also addressed concerns about potential overlaps in the responsibilities of both agencies, clarifying that the NRS has no intention of encroaching on the statutory mandate of the NUPRC.
According to him, effective governance and improved national outcomes can only be achieved when institutions remain focused on their respective responsibilities while maintaining strong collaborative relationships.
Adedeji further reiterated that the NRS remains the sole agency legally empowered to determine allowable expenses for tax purposes. He explained that royalty payments continue to qualify as deductible expenses in the computation of taxable income, providing clarity on issues that have generated discussions within the industry.
The NRS chairman noted that stronger cooperation between both institutions would contribute significantly to improved revenue performance and national economic growth.
“NUPRC’s success is NRS’s success,” he stated, stressing that both agencies share a common objective of maximizing value from Nigeria’s natural resources and strengthening government revenues.
In her remarks, Eyesan expressed appreciation to the NRS leadership and management team for the warm reception and the spirit of partnership demonstrated during the visit.
She reaffirmed NUPRC’s commitment to working closely with the revenue agency and other stakeholders to ensure effective regulation of the upstream petroleum sector while supporting broader economic development goals.
Observers say the renewed collaboration between the two agencies is expected to improve coordination in the administration of fiscal policies within the petroleum industry and contribute to more efficient revenue collection for the country.
