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    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

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    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    • Companies
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    FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

    UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

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    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

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    New hope for Naira fixed income savers?

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FG to Retain 1,500 Staff Members of Scrapped DPR, PPPRA and PEF

Thursday, 21 October 2021, 4:44 pm
in News
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FG to Retain 1,500 Staff Members of Scrapped DPR, PPPRA and PEF
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Minister of State for Petroleum Resources, Chief Timipre Silva, has disclosed that the Federal Government of Nigeria will retain about 1,500 members of staff of the scrapped Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), and Petroleum Equalization Fund (PEF).

This was made known to newsmen, while the Minister met with employees of the defunct agencies yesterday in Abuja, where he also announced that he had stepped down as the Chairman of the Nigerian National Petroleum Corporation (NNPC).

A reported combined workforce of about 1,410 (DPR – 610; PPPRA – 400; PEF – 400) were at the verge of losing their means of livelihood due to the inauguration of the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Regulatory Commission (NURC) which technically knocked out the defunct agencies.

Assuring the workers that the FG did not intend to retrench them, the Honorable Minister said, “We assure you that this is a very normal transition. The PIA has been passed and the law stipulates that certain actions must be taken.

“That the DPR, as it was then, must be wound down and two successor agencies are to be inaugurated. And, of course, I had to step down as chairman of NNPC. It is all because this is what the law states.”

Despite the CEOs of the defunct agencies losing their jobs on the grounds of being political appointments, the Minister said the staff were covered by law.

“But I want to assure you that the staff has nothing to worry about because the law is very clear also on the position of the staff of DPR, PEF and PPPRA,” he concluded.

The FG may have to rejig the workforce of the defunct agencies to suit the needs and objectives for setting up the new agencies. The Petroleum Industry Act (PIA) is going to introduce serious revolutions within the industry but it remains to be seen how transparent this process could be.

Lots of rackets go on in the industry and this is what the government is bent on stamping out. The big question is, will he who goes to equity, go with clean hands? Will the process be selective or wholesome so that the looming tsunami would eliminate all forms of undercover deals within the space and give us an industry as transparent as glass water? Will this revolution give us an industry that would generate income for the country as an oil producing nation and reduce, nay, eliminate borrowing? Will Nigerians begin to live the lives they are capable of because of the huge natural resources within the oil and gas industry?

We are watching!

Azuka Edokobi
Azuka Edokobi

Azuka Edokobi is a Writer , a Farmer, a Supply Chain Expert and an Entrepreneur

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