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FG To Scrap NNPC, DPR, PPPRA And Also Sell Unprofitable Refineries

The Federal Government is set to scrap the Nigerian National Petroleum Corporation, NNPC, Department of Petroleum Resources, DPR, and Petroleum Products Pricing Regulatory Agency, PPPRA, among others.
nnpc-tower-640x431In the document released by the Ministry of Petroleum Resources, last weekend, the Federal Government has proposed to merge Nigeria’s oil industry regulatory authorities into a single agency to be known as Petroleum Regulatory Commission, PRC.

The new regulator will incorporate the activities of the existing petroleum regulatory authorities and also cover some new regulatory activities not currently covered as the existing institutional regulatory framework are weak, largely ineffective and inefficient..

It stated:

“Although the agencies generally work well together, their roles, sometimes, overlap and there are significant information gaps within the government as, sometimes, one institution is unaware of what the other is doing.

“At the same time, policy making capacity has been weak, resulting in NNPC and its subsidiaries setting policy and regulation as well as conducting operations in the petroleum sector. The result is an ineffective and inefficient institutional environment in the petroleum sector in Nigeria.”

The draft policy is also proposing that, in order to reduce the inefficiencies in parastatals in the petroleum sector, the proposed single petroleum sector regulatory authority will operate under the policy supervision of the Minister of Petroleum Resources.

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  • Cornel Nwankwo

    The federal government might have a good agenda pertaining to what is being stated above but scrapping of NNPC is never the best idea

  • Kenny D Osonwa

    Nigeria at it again, from frying pan to fire… God help us..

  • chika bibian

    Too too bad. Instead to fix the refinery they plan to sell it… And definitely they are the ones that will acquire it somehow….. G

    • Cornel Nwankwo

      That is the problem with the nation

  • Mezzy Gilbert

    Smh

  • emekachilaka

    rubbish confuse set of people

  • kayode akinsanya

    They can sell unprofitable refineries and do new one that will be profitable

    • Cornel Nwankwo

      You have a point bro, that is only if federal government will agree to such

    • Cornel Nwankwo

      You have a point bro, that is only if federal government will agree to such

  • Olovo Obinna

    So indirectly they are planning to sell part of our refineries……its a wa….what become of those employed under this organisation

  • WillieBravo

    I think they should actually merge. There’s too much duplicity in their functions, they are just wasting out money.

  • Who will buy unprofitable refineries… thinking out loud

    • kayode akinsanya

      You can

    • Olovo Obinna

      All na grammar to confuse nigerians

    • Cornel Nwankwo

      Some will still buy same and make it profitable

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