The Minister of State for Petroleum Resources Tiimipre 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 to the new introduced 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.
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.
