PIA: Eclipse Of DPR, PPPRA, PEF As SGF Issues Appointment Letters To Board, Management Team Of Upstream Commission, Downstream Authority

The Federal Government has issued letters of appointment to the Board and Management of the Nigerian Upstream Regulatory Commission; and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

The move heralds the start of regulatory reforms as encapsulated in the Petroluem Industry Act. It also signals the transformation of the roles of the Department of Petroluem Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund.

The letter, issued by the Secretary to the Government of the Federation, Boss Mustapha, is coming barely a week after the Senate had approved their nomination by President Muhammadu Buhari.

The two agencies were created following the implementation of the Petroleum Industry Act, which was signed into law in August by President Muhammadu Buhari.

Buhari had in his letter to the Senate asked the Senate to confirm for the Midstream and Downstream Petroleum Regulatory Authority Idaere Ogan (Chairman); Farouk Ahmed (Chief Executive); Abiodun Adeniji (Executive Director, Finance and Accounts); and Ogbugo Ukoha (Executive Director, Distributions Systems, Storage and Retail Infrastructure).

Farouk was a former Executive Secretary of the Petroleum Products Pricing Regulatory Agency.

The PIA provides that the Authority would regulate the midstream and downstream petroleum operations in the country.

The Chief Executive Officer will be supported by seven Executive Directors to handle the day-to-day administration of the Authority.

The Authority will take over the current functions of the DPR, with respect to the regulation of technical and commercial activities in the downstream and midstream petroleum operations.

Furthermore, the Authority will be saddled with the responsibilities of providing pricing and tariff frameworks for natural gas in midstream and downstream gas operation.

It will also provide pricing Tarrif for petroleum products based on fair market basis, thus, absorbing the current responsibilities and functions of the Petroleum Products Pricing Regulatory Agency.

For the Nigerian Upstream Regulatory Commission, those confirmed by the Senate are Isa Modibo (Chairman); Gbenga Komolafe (Chief Executive); Hassan Gambo (Executive Commissioner, Finance and Accounts); and Rose Ndong (Executive Commissioner, Exploration and Acreage Management).

THE WHISTLER had reported that as the Chief Executive of the Commission, Komolafe would serve for a period of five years.

The position is also renewable once for another five years according to the Act.

The Commission will take over the current functions of the Department for Petroleum Resources (DPR), with respect to the regulation of technical, operational, commercial and environmental activities associated with upstream petroleum operations.

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