Tag: PPPRA

Oil Minister confirms Platforms Africa Exclusive News on DPR, PPPRA, PEF scrapping, CEOs’ sack

ADEOLA YUSUF

“The law specifically repeals the DPR Act, the Petroleum Inspectorate Act, the Petroleum Equalisation Fund Act and the PPPRA Act.  It is very clear that those agencies do not exist anymore.”   Four weeks after the Platforms Africa exclusive news on the scrapping of the Department of Petroleum Resources (DPR), Petroleum Equalisation Fund (PEF) and the Petroleum Products Pricing Regulatory Agency (PPPRA), the Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has officially confirmed the report. Mr. Sylva also noted, in confirmation of the Platforms Africa report published on…

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EXCLUSIVE: Nigeria scraps DPR, PPPRA, Names new Oil regulators, Mgt, Boards

ADEOLA YUSUF

The two agencies in charge of regulations for Nigeria’s upstream and downstream oil sub-sectors, Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA), will legally cease to exist in their present structures any moment from now, Platforms Africa  can report authoritatively. President Muhammadu Buhari has already officially announced the creation of new entities that will replace the two agencies. Buhari through a letter, obtained exclusively by Platforms Africa, to the Senate President, Ahmed Lawan, has appointed the heads of the two regulatory agencies that were created following…

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Fresh Fuel Price hike Looms as Nigeria mulls 20% Freighting Cost surge

Aliyu Aliyu

  The Nigerian Government has revealed plans to increase cost of transporting (freighting) Premium Motor Spirit (PMS) also known as petrol by 20 percent. The surge, which will see the price jumping from N7.51 to N9.11 per litre in the pricing template of Petroleum Products Pricing Regulatory Agency (PPPRA), will, if scaled through, lead to hike in the retail price of the product across the country. The Executive Secretary of the Petroleum Equalisation Fund (PEF) management Board, Ahmed Bobboi, who stated this, maintained that this development was a measure to…

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17,483 PPPRA, PEF staff face sack, mass redeployment as Minister declares end to agencies’ existence

Efe Wellington

  The Nigerian Minister of  State for Petroleum Resources, Timipre Sylva, has declared an end to the existence of some agencies buoyed by the full deregulation of the country’s oil industry. Sylva made the disclosure while speaking with newsmen in Abuja, administrative capital of Nigeria. The minister specifically mentioned the Petroleum Products Pricing Regulatory Agency, ( PPPRA)  and the Petroleum Equalisation Board,  (PEF) as agencies that will no longer be in existence. The two agencies do not, according  to checks by Platforms Africa, operate a transparent system where the number…

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