The Federal Government has announced the official dissolvement of the Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this 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.
Sylva said that with the passage of the Petroleum Industry Act, the National Petrochemical, NPRA and Refiners Association and the National Undersea Research Center, NURC, have taken over the functions of the DPR, PPPRA and PEF.
He however explained that while workers of the three agencies would be protected, their chief executives had been relieved of their various appointments.
“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.”
On what would happen to the chief executives and employees of DPR, PEF and PPPRA, the minister replied, “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 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.