News Oil and Gas

FG officially scraps DPR, PPPRA, PEF, for new agencies, sacks their CEOs

The Federal Government has officially scrapped of the Department of Petroleum (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalization Fund (PEF).

This is coming after the take-off of the Nigerian Upstream Regulatory Commission (NURC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) following the implementation of the Petroleum Industry Act (PIA) after the recent signing by President Muhammadu Buhari

This disclosure was made by the Minister of State for Petroleum Resources, Chief Timipre Sylva, while speaking on the side-lines of the inauguration of the boards of the NURC and NMDPRA in Abuja

He however, said that workers at these 3 agencies would have their jobs protected, while their Chief Executive Officers had been relieved of their various appointments.

Sylva explained that with the passage of the Petroleum Industry Act, the NPRA and NURC had taken over the functions of the DPR, PPPRA and PEF.

He stated that the process for aligning the workers of the defunct agencies with the new regulatory bodies had already commenced, as the staff had to be rationalised adding that the inauguration of the boards will mark the beginning of the successor agencies.

The Federal Government had in August, inaugurated the steering committee that would implement the PIA.

error: Content is protected !!