The Honourable Minister of State for Petroleum Resources H.E Timipre Sylva has officially announced the transition of the now-defunct Department of Petroleum Resources (DPR), Petroleum Equalization Fund (Management Board) and Petroleum Product Pricing Regulatory Commission .
According to a statement on Monday, the Minister also introduced the new agencies and their Chief Executives in respect to the Petroleum Industry Act.
The new agencies are the Nigerian Upstream Regulatory Commission as well as the Nigerian Midstream and Downstream Authority.
The management team comprised of Engr. Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Regulatory Commission.
While Engr. Farouk A. Ahmed is the Chief Executive Officer of the Nigerian Midstream and Downstream Regulatory Authority.
H.E Tiimipre Sylva charged the new Chief Executives to be up and doing in their respective areas in order to ensure that there is a smoother, fuller actualization of the PIA.
The appointment takes immediate effect.
By Roland Ekama
