The Federal Government says it has officially scraped the Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalisation Fund (PEF).
The Minister of State for Petroleum Resources, Timipre Sylva, who disclosed this at a forum in Abuja said with the passage of the Petroleum Industry Act, the NPRA and NURC had now taken over the functions of the DPR, PPPRA and PEF as their chief executives have been relieved of their various appointments while workers of the three agencies would be protected.
“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. It is very clear that those agencies do not exist anymore.” The Minister stated.
Sylva, however, explained that despite the sack of the CEO’s, 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.” He noted.
The Minister also said 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.
In his words; “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.”
He further stated that with the passage of the PIA into law, after spending over 20 years in the process, the coast was now clear for investors to fully invest in Nigeria’s oil sector.