PIA: FG Inaugurates Boards Of New Oil Industry Successor Regulatory Agencies - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 21, 2021
The new entities are the Nigerian Upstream Regulatory Commission NURC and Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The inauguration of the two bodies are critical steps to ensuring effective regulation and the adoption of best practices in the Oil and Gas sector, in line with global standards.
The minister inaugurated the new Chief Executive Officers and members of the Governing Boards of the Commission and Authority, in Abuja, following their appointments, screening and clearance by the Senate.
The Commission replaced the defunct Department of Petroleum Resources DPR while the Authority replaced the Petroleum Equalisation Fund PEF and the Petroleum Products Pricing Regulatory Agency PPPRA.