July 16, 2024

Massive restructuring in energy sector


Adebayo Obajemu

President Bola Ahmed Tinubu driven by the economic crisis and the high costs of governance has set up a committee to implement Stephen Oronsanye Report on rationalisation on the reform of the civil service and government institutions.

He has ordered the immediate scrapping of many agencies in full implementation of the Oronsaye report. Tinubu on Monday, February 26, ordered the implementation of the Oronsaye panel report on the reform of the civil service .

The reform affects oil and gas agencies. In the reform to be implemented, the National Oil Spill Detection and Response Agency (NOSDRA) and National Environmental Standards and Regulations Enforcement Agency (NESREA) and their functions will henceforth be performed by the Ministry of Environment.

Part of the recommendations of the Oronsanye committee is that Petroleum Products Pricing Regulatory Authority (PPPRA) and Petroleum Equalisation Fund be merged with Petroleum Equalisation Fund (PEF).

Details later


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