FG Inaugurates New Agencies, Scraps DPR, PPPRA, Sacks CEOs

Abuja – Federal Government has scrapped The Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalisation Fund (PEF).

This was announced on Monday in Abuja 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 Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja.

He further said the workers of the three agencies would be protected, while their chief executives had been sacked.

Timipre Sylva
Minister of State for Petroleum, Timipre Sylva

While answering questions on what would happen to DPR following the inauguration of the board of NURC, Sylva said, “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.

“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.”

“The law also provides for the staff and the jobs in those agencies to be protected.

“But I’m sure that that doesn’t cover, unfortunately, the chief executives, who were on political appointments.”

Sylva said, “The authority has its staff coming from the defunct PEF, PPPRA and DPR. The commission has staff coming over from DPR and the process is going on for the next few weeks.”

Punch reports Sylva saying that the inauguration of the boards on Monday marked the beginning of the successor agencies.

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He said, “The PIA provides for the upstream regulatory commission and the establishment of the midstream and downstream authority.

“So far, the chief executives of these agencies have not been in place, but of course, Mr President in his wisdom made the appointment a few weeks ago and they went through a rigorous process of confirmation at the National Assembly.

“The agencies have now taken off because they now have clear leadership and today’s event marks that beginning for the new agencies.”

“Today, the PIA has clarified the legal framework around the sector and the agencies are now in place. So I don’t see anything now stopping investors from coming,” the minister stated.

He said competent hands were now handling the business, adding, “Nigerians should brace up for exponential growth in the oil and gas sector.”

Abdullahi Abubakar

Abdullahi Abubakar is a graduate of the University of Maiduguri.He is a teacher and passionate about Journalism and writing in general. He works with Today Post as a senior Editor and is currently living in Gombe.

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