Skip to main content

No plans to Scrap NNPC in the PIB – FG

The Federal Government has said that there are no plans to Scrap the Nigerian National Petroleum Corporation, NNPC in the Petroelum Industry Bill 2020 that has been transmitted to the National Assembly by President Muhammadu Buhari.

Answering questions from Journalists in Abuja after an interactive meeting with the leadership of the National Assembly, Minister of State for Petroleum, Timipre Sylva, who allayed the fears of staff of the Corporation and Nigerians, said that the bill seeks for the commercialisation of NNPC and not outright scrapping.

The meeting which was Presided over by the President of the Senate, Senator Ahmad Lawan, with the Speaker, House of Representatives, Femi Gbajabiamila, and other Leaders of the National Assembly in attendance is aimed at discussing the details of a draft copy of the Petroleum Industry Bill (PIB).

Sylva said, “We have heard so much noise about NNPC being scrapped but that is not envisaged by the Bill at all.

”NNPC will not be scrapped but commercialised in line with deregulation move being made across all the streams in the sector comprising of upstream, downstream and midstream.

“We have said that NNPC will be commercialized. But If you are talking about transforming the industry, the only new thing that we are introducing is the development of the midstream, that is the pipeline sector – that sector between the upstream and the downstream which because the the framework was not there has not really developed very well.

“So we have provided robustly for the growth of the midstream sector.

“Through commercialisation , the required competitiveness in the sector , will be achieved ”

The Minister also explained that the host communities will also have the best deal from the bill .

According to him , through the PIB the industry will be transformed and the PEF and the PPPRA will not exist in the same form that they exist today.

He said, “I am sure that the PIB will also take care of that because with the PIB the industry will be transformed and the PEF and the PPPRA will not exist in the same form that they exist today.

“But I don’t want want to go into the details of the Bill until it is read on the floor of the Senate.”



Comments

Post a Comment

Popular posts from this blog

Vulvar Care Tips

Vulva Care Maintaining a healthy vulva and vagina will help prevent infections and discomfort. Unusual changes in vaginal discharge is a sign that there might be an issue. Why is vulvar and vagina care important? Many women experience uncomfortable, vaginal infections (vaginitis) at one time or another. The area around the entrance to the vagina (vulva) can also become irritated. Steps can be taken to relieve and prevent vulvar discomfort and vaginal infections. Not all vaginal infections are alike and home treatments can worsen some types. If you have any concerns about your vulvar or vaginal health, or notice unusual changes in vaginal discharge, contact your healthcare provider if the problem persists. What is the vulva? The vulva is the area of female sex organs that lies outside of the vagina. These organs include folds of sensitive tissue called the labia (labia means "lips"). The labia has two parts. The outermost folds are called the labia majora. A secon...
Post a Comment
Read more

FRSC reinforces directive on use of google maps while driving

The Federal Road Safety Corps (FRSC) has clarified its position on the use of Google Maps, The FCT Sector Commander of the Federal Road Safety Corps (FRSC), Ayuba Gora was quoted saying that driving with the aid of Google map using mobile phones is a serious traffic offence. Gora said this at the inauguration of the 2019 Ember Months Campaign by Lugbe Unit Command of the FRSC in Abuja yesterday. But, FRSC Spokesman Bisi Kazeem making reference to Gora’s comments said the Sector Commander was quoted out of context and his statement outrightly misrepresented. Kazeem said the FRSC as a technology-driven organisation is not and has never stood against the use of Google Maps by Motorists. The statement read: “To state the obvious, we have always enlightened the public on the position of the law on the use of phone while driving. “The statement he made during the flag off buttresses the position of the Corps, which is that any driver who intends to deploy the use of Google Map...
Post a Comment
Read more

Eddie Murphy Expected To Star In "Coming To America" Sequel

The long-awaited sequel may finally be happening. Coming To America remains one of actor/comedian Eddie Murphy's most accomplished movies. Generally well-regarded by critics and a lifetime box office gross of nearly $289 million, it balanced Murphy's desire to launch himself into the role of romantic leading man while still maintaining a broad audience appeal. Now, according to The Hollywood Reporter, fans who have been waiting for a sequel to the hit film may not have to hold out too much longer. Jonathan Levine, who has directed movies like Warm Bodies and 50/50 is teaming with Black-ish creator Kenya Barris to inject some new life into the sequel hopes for Coming to America 2. Levine will be taking the reigns behind the camera while Barris ia on board to rewrite the script. Paramount has had an on again-off again relationship with this franchise follow-up, but earlier this spring the studio had officially given the project the green light, with original screenwriters ...
Post a Comment
Read more