The federal government says the Department of Petroleum Resources, the Petroleum Price Regulatory Agency and the Petroleum Equalization Fund are all formally abolished.
The Minister of State for Petroleum Resources, Timipre Sylva, said this Monday during the inauguration of the boards of directors of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja.
Mr Sylva added that workers at the three agencies would be protected, while their general managers had been dismissed from their posts.
With the adoption of the Oil Industry Law, the NPRA and NURC took over the functions of the DPR, PPPRA and PEF, the minister said.
“The law states that all the assets and even the personnel of the DPR must be invested in the commission and also in the authority. This therefore means that the DPR no longer exists.
“And, of course, the law specifically repeals the DPR Law, the Petroleum Inspection Law, the Petroleum Equalization Fund Law and the PPPRA Law. The law expressly repeals them. It is very clear that these agencies no longer exist.
“The law also provides for the protection of the staff and jobs of these agencies. But I’m sure that [law] does not cover, unfortunately, general managers, who were on political appointments.
“The authority has its staff from the deceased PEF, PPPRA and DPR. The commission has staff from DPR and the process is continuing for the next few weeks.
“The PIA provides for the upstream regulatory commission and the establishment of the intermediate and downstream authority.
“So far the CEOs of these agencies have not been in place, but of course the President in his wisdom made the appointment a few weeks ago and they went through a rigorous process of confirmation to the National Assembly, “added the minister. .
