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DPR, PEF others cease to exist, as Petroleum industry act takes effect.

Photo credit: The whisler.

As part of reforms to implement the new oil legislation assented to by the president, the secretary to the Government of the federation, Mr. Boss Mustapha had issued letters of appointments to the newly appointed, chief executives officers of the Nigerian upstream regulatory commission as well as the Nigerian midstream and downstream petroleum regulatory authority. The appointment letters issued through the secretary to the government of the federation Boss Mustapha, is sequel to senate screening and confirmation of the new executives.

The enactment of the petroleum industry bill by the legislature, and its subsequent assent by president Muhammadu Buhari in august.

 This results to unprecedented reforms and creations of the Nigerian upstream regulatory commission, and the Nigerian midstream and downstream petroleum regulatory authority. The assent paves way to the creations of the new regulatory reforms as enshrined in the petroleum industry act, the chief executive officers of the department of petroleum resources, the petroleum products pricing regulatory agency and the petroleum equalization fund, will today quit the affairs of those organizations into that of the Nigerian upstream regulatory commission, and the Nigerian midstream and downstream petroleum regulatory authority respectively. Therefore the act transformed the role of the department of petroleum resources, the petroleum products pricing regulatory agency, and the petroleum equalization fund, into the newly created agencies.

 Consequently Ebenga komolafe is the new chief executive officer of the Nigerian upstream regulatory commission, to serve for a periods of five years in the first instance. The act provided that the appointment is renewable once after five years term, the commission assumes the functions of the DPR, which includes but not limited to the regulation of operational, technical, commercial and environmental activities associated with upstream petroleum operations. 

On the other hand Farouk Ahmed is appointed the new chief executive officer of the midstream, and downstream petroleum regulatory authority. 

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Muhammadu Buhari Mustapha Nigerian

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