Senate Scraps NNPC, Establishes 3 New - Politics - Nairaland
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| Senate Scraps NNPC, Establishes 3 New by barx(m): 6:21pm On May 25, 2017 |
Senate scraps NNPC, establishes 3 new agenciesBy Yemi Itodo on May 25, 2017 The Nigeria National Petroleum Corporation (NNPC), has been scraped by the Senate. This is following the passage of the controversial Petroleum Industry Governance Bill (PIGB). The Senate had on Thursday, considered and passed the much talked about PIGB, after its clause by clause consideration. In place of NNPC, the Senate recommended the establishment of three new agencies to effectively manage the largely troubled oil and gas sector. Among the agencies established in the bill, is the Nigerian Petroleum Regulatory Commission (NPRC), which shall be headed by a Chairman. The commission will also consist of Commissioners, whose appointments and removal shall be subject to Senate approval. The Petroleum Product Pricing Regulatory Agency (PPPRA) is now under the new commission. The PIGB also established the Nigerian Petroleum Asset Management Company (NPAMC) and National Petroleum Company (NPC), to coordinate the activities of other existing agencies, including the Department of Petroleum Resources (DPR). The bill which consists of 132 clauses has taken time to come, having outlived the 5th to 7th Senate, making the Senate President, Bukola Saraki to describe its passage as “historical”. When signed into law, the document is expected to stimulate Nigeria’s oil and gas sector. It is also expected to help Nigeria reduce corruption and inefficiency in the sector. Chairman, Senate Committee on Petroleum (Downstream), Senator Tayo Alasoadura said he was delighted that his committee could achieve much on the bill. “Today we have achieved what people believed was impossible to accomplish”, he told Journalists. It could be recalled that nine months ago, the Senate mandated its relevant committees to work on the old copy of the PIB, which was divided into different compartments. On his part, the Chairman, Senate Committee on Gas, Akpan Bassey, said, the “jinx has been broken”. He expressed optimism that the bill would create confidence on how the business of oil and gas was done in the country. “It will create the right signal to international community that Nigeria is ready for business”, he said. |
| Re: Senate Scraps NNPC, Establishes 3 New by jessejunior(m): 6:24pm On May 25, 2017 |
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| Re: Senate Scraps NNPC, Establishes 3 New by Jabioro: 6:26pm On May 25, 2017 |
Senate recommended not scrapped as you are screaming ..Advised! |
| Re: Senate Scraps NNPC, Establishes 3 New by Nobody: 6:29pm On May 25, 2017 |
Scam alert |
| Re: Senate Scraps NNPC, Establishes 3 New by Nobody: 6:53pm On May 25, 2017 |
When would they scrap the Senate? |
| Re: Senate Scraps NNPC, Establishes 3 New by nairalandbuzz(m): 6:55pm On May 25, 2017 |
Remaining the lower chamber that needs to b scrapped |
| Re: Senate Scraps NNPC, Establishes 3 New by AngelicBeing: 7:00pm On May 25, 2017 |
Keneking:l will not sack the senate because they are all thieves, let them continue stealing because stealing is not corruption but make sure you vote APC out in 2019, l, Buhari has failed the nation, l thought governance was easy, but l now know better , Osibanjo is the new President, l will remain in England till 2019, tell those useless Military men that if they overthrow my government, l will lead civil disobedience all over Nigeria, Osibanjo is the new President, those who are not happy should go to hell but vote Osibanjo out in 2019 and elect a younger President like that of France, signed Buhari the ceremonial President of Nigeria  1 Like
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| Re: Senate Scraps NNPC, Establishes 3 New by Fmartin(m): 7:01pm On May 25, 2017 |
ok oh. |
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