No Final Decision On Scrapping Of NNPC, Agencies Yet- FG

No Final Decision On Scrapping Of NNPC, Agencies Yet- FG
Ministry Holds Two-Day Gas Policy Parley
The Federal Government, on Tuesday said it has not taken a final decision on plans to scrap the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and the Petroleum Products Pricing Regulatory Agency (PPPRA), among others to give room for the proposed Petroleum Regulatory Commission, a new single regulatory agency.
The idea becomes a policy plan of government, according to a statement by Idang Alibi, Director, Press and Public Relations in the Federal Ministry of Petroleum Resources, “after they undergo the necessary processes.”
At the moment, the Ministry said it is still a draft that is subject to further amendments, reviews or even rejection, lamenting a situation where the media is sounding as if the draft documents are definitive, thereby “unwittingly seeking to preempt the processes the processes they must undergo, before they become authentic plans of government.”
As a follow-up, the Ministry will tomorrow, Wednesday, November 16, 2016, begin a two-day stakeholders’ consultation meeting on the draft National Oil Policy and draft Gas Policy.
The parley, scheduled for the PTDF Corporate headquarters in Abuja is to allow for a robust debate on the ideas contained in the draft documents, after which the outcome is “presented to the highest decision-making body in the country, the Federal Executive Council (FEC), for consideration.”
It is only the pronouncement of the FEC, Alibi added, “that will make the draft become policy and working documents for the Ministry of Petroleum Resources to reform the petroleum sector.”
The draft policy on oil and gas, the statement stressed, are meant to sensitize Nigerians and other key stakeholders on some of the options being mooted to rejig that critical sector.