The Federal Government on the 18th of October 2021 officially scrapped these governing and regulating oil and gas bodies. The Department of Petroleum Resources (DPR), the Products Pricing Regulatory Agency (PPRA) and the Petroleum Equalisation Fund (PEF). These agencies officially seize to exist as their chief executives have been relieved of their various appointments
The Minister of State for Petroleum Resource, in the person of Chief Timipre Sylva, stated while he giving a speech during the inauguration of the new boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja.
He explained that the passage of the Petroleum Industry Act, the NPRA and NURC has officially taken over the functions of the DPR, PPPRA and PEF. He goes further that these turn of events is simply a matter of the law which states that all the assets and even the staffs of the DPR are to be invested on the commission and also in the authority.
He further states that the law will protect and provide for the staff and their jobs will be appropriately protected. However, the same thing cannot be said for the chief executives who are there on the basis of a political appointment. But news circulating the press on the 20th of October 2021 denied that the Federal Government sacked the heads of the defunct agencies, clarifying that the “situation is that the PIA has established these two agencies to succeed the DPR, PPPRA and PEF, and the heads of these agencies have been appointed by the President in his wisdom and they have also been cleared by the National assembly.
Speaking earlier, the Head, Corporate Services, DPR, Mr Ibrahim Ciroma assured the Minister and the CEOs that the workers were ready to support them and implement the reforms envisaged by the government in the PIA.
Also speaking at the PPPRA, Mr Olasupo Agbaje, General Manager, Gas and Renewable, assured that the staff were also ready to support the new management to grow the sector.
Punch and Vanguard News.