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Nigerian Govt Scraps DPR, Others Sacks CEOs; Commissions New Regulatory Agencies

Nigerian Govt Scraps DPR, Others Sacks CEOs; Commissions New Regulatory Agencies

The Nigerian Government yesterday has put to a stop the existence of the Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA), and the Petroleum Equalisation Fund (PEF) and commissioned new regulatory agencies for the oil industry. Information Guide Nigeria

The  Federal Government, however, stated that staff of the scrapped agencies are covered while their chief executive officers have all been relieved of their appointments.

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The Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed this while conversing with newsmen at the commissioning of the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) and the Nigerian Upstream Regulatory Commission (NURC) in Abuja.

According RipplesNigeria, in Sylva’s words: “It is now a matter of law.

“The law states that all the assets and even the staff of the DPR are to be invested on the commission and also in the authority. So that means the DPR doesn’t exist anymore. jamb results

“And, of course, the law specifically repeals the DPR Act, the Petroleum Inspectorate Act, the Petroleum Equalisation Fund Act, and the PPPRA Act. The law specifically repeals them. It is very clear that those agencies do not exist anymore” he said.

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goodnews

Essien, Goodnews is a gruaduate of Communication Arts, University of Uyo, Uyo; Currently working at Infoguide Media as a news writer.

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