FG scraps DPR, PPPRA and PEF

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President Buhari

The federal government says the Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalization Fund (PEF) are all officially scrapped.

The Minister of State for Petroleum Resources, Timipre Sylva, said this yesterday during the inauguration of the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja.

Sylva added that workers of the three agencies would be protected, while their chief executives had been relieved of their appointments.

The minister further explained that with the passage of the Petroleum Industry Act, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) and Nigerian Upstream Regulatory Commission (NURC) had taken over the functions of the DPR, PPPRA and PEF.