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FG Scraps DPR, PPPRA, PEF, Sacks CEOs, Inaugurates New Agencies

Published

4 years ago

October 19, 2021

Eric

The Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund are all officially scrapped and do not exist anymore, the Federal Government said on Monday.

It also said while workers of the three agencies would be protected, their chief executives had been relieved of their various appointments.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, stated this while speaking on the side-lines of the inauguration of the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja.

He explained that with the passage of the Petroleum Industry Act, the NPRA and NURC had taken over the functions of the DPR, PPPRA and PEF.

Responding to a question on what would happen to DPR following the inauguration of the board of NURC, Sylva said, “It is now a matter of law.

“The law states that all the assets and even the staff of the DPR are to be invested on the commission and also in the authority. So that means the DPR doesn’t exist anymore.

“And, of course, the law specifically repeals the DPR Act, the Petroleum Inspectorate Act, the Petroleum Equalisation Fund Act and the PPPRA Act. The law specifically repeals them. It is very clear that those agencies do not exist anymore.”

On what would happen to the chief executives and employees of DPR, PEF and PPPRA, the minister replied, “The law also provides for the staff and the jobs in those agencies to be protected.

“But I’m sure that that doesn’t cover, unfortunately, the chief executives, who were on political appointments.”

He stated that the process for aligning the workers of the defunct agencies with the new regulatory bodies had already commenced, as the staff had to be rationalised.

Sylva said, “The authority has its staff coming from the defunct PEF, PPPRA and DPR. The commission has staff coming over from DPR and the process is going on for the next few weeks.”

Sylva stated that the inauguration of the boards on Monday marked the beginning of the successor agencies.

He said, “The PIA provides for the upstream regulatory commission and the establishment of the midstream and downstream authority.

“So far, the chief executives of these agencies have not been in place, but of course, Mr President in his wisdom made the appointment a few weeks ago and they went through a rigorous process of confirmation at the National Assembly.

“The agencies have now taken off because they now have clear leadership and today’s event marks that beginning for the new agencies.”

He further stated that with the passage of the PIA into law, after spending over 20 years in the process, the coast was now clear for investors to fully invest in Nigeria’s oil sector.

“Today, the PIA has clarified the legal framework around the sector and the agencies are now in place. So I don’t see anything now stopping investors from coming,” the minister stated.

He said competent hands were now handling the business, adding, “Nigerians should brace up for exponential growth in the oil and gas sector.”

The Chief Executive, NURC, Gbenga Komolafe, said the commission would deliver on its mandate as captured in the new petroleum Act.

“Nigerians should expect massive deliverables in the sense that the PIA has ended the regime of uncertainty in terms of the governance of the industry,” he said.

He also said the commission would ensure that the country hits its OPEC quota in crude oil production, as the NURC would be an enabler of investments.

The Punch

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Yes! Magazine Publisher, Azuh Arinze, Conferred with Fellowship of NGE

Published

4 hours ago

November 14, 2025

Eric

The 21st All Nigeria Editors Conference (ANEC), held from November 11–14, 2025 at the magnificent Aso Villa and NAF Centre in Abuja, will be remembered for many reasons – its robust conversations, its galaxy of eminent speakers, and its firm focus on national cohesion.

But for Azuh Arinze, Publisher/Editor-in-Chief of YES INTERNATIONAL! Magazine, it was the final day that proved most unforgettable, as he was formally conferred with the prestigious Fellowship of the Nigerian Guild of Editors (NGE) – an honour both well deserved and warmly applauded.

Themed “Democratic Governance and National Cohesion: The Role of Editors,” the conference assembled the highest echelon of Nigeria’s political, media, security and thought leaders. President Bola Ahmed Tinubu, who graced the occasion as Special Guest of Honour, delivered remarks underscoring the indispensable role of a free and responsible press in safeguarding national stability.

The keynote address by Governor Hope Uzodimma of Imo State resonated deeply, as he spoke passionately about the responsibility of editors in shaping democratic narratives, holding public office accountable and bridging Nigeria’s complex socio-political divides.

Other distinguished contributors were Alhaji Mohammed Idris, Minister of Information and National Orientation; Mr. Peter Obi, former Governor of Anambra State and Labour Party presidential candidate; Hon. Rotimi Amaechi, former Governor of Rivers State and ex-Minister of Transportation; and General Lucky Irabor (rtd.), former Chief of Defence Staff. Their perspectives enriched the conference with remarkable clarity and candour.

The event was jointly chaired by two towering figures – His Eminence, Alhaji Muhammad Saad Abubakar, Sultan of Sokoto, and Prince Nduka Obaigbena, Chairman of ThisDay and Arise News Media Group. Both leaders commended the Guild for elevating excellence and reinforcing professional standards.

When the Fellowship announcement was made, the hall erupted in applause. With characteristic humility – yet visibly moved – Azuh Arinze stepped forward to receive the honour.

“This Fellowship means a lot to me,” he said, smiling broadly as he returned to his seat. “It is a beautiful reminder that dedication, consistency and integrity still count in our profession. I am grateful to the Nigerian Guild of Editors, and I dedicate this honour to every journalist who wakes up daily to tell the stories that matter.”

Azuh Arinze’s journalism journey has been one of passion, persistence and purpose.

He began his career in the bustling Lagos media landscape 30 years ago, cutting his teeth as an IT student at FAME Weekly, armed with curiosity and a hunger to learn. Over the years, he rose steadily and impressively, distinguishing himself through his flair for human-interest stories, compelling interviews and thorough investigative reporting.

He became widely celebrated during his inspiring years at National Encomium (later Encomium Weekly), where he served as Editor for eight uninterrupted years. His editorial brilliance also flourished at Reel Stars, where he also served as Editor, helping to redefine entertainment journalism with depth, credibility and flair.

Today, he is best known as the Publisher/Editor-in-Chief of YES INTERNATIONAL! Magazine, a platform that continues to set standards in personality, lifestyle and development journalism. Through the magazine, his interviews with leading figures across politics, business, media and entertainment have become reference points for students, creators and seasoned professionals.

Beyond print, Azuh is an accomplished author of nine widely regarded books that explore success, leadership and the power of storytelling. As a media entrepreneur and mentor, he has played a pivotal role in nurturing young journalists and promoting ethical, impactful journalism.

His contributions to the media profession have earned him multiple honours over the decades, and his elevation as a Fellow of the Nigerian Guild of Editors stands as a crowning recognition.

He holds a Master’s degree in Public Administration, a BSc in Public Administration and a HND in Mass Communication – and is currently back in school, pursuing further studies.

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Senate Approves Tinubu’s N1.15tr Domestic Loan Request to Fund 2025 Budget Deficit

Published

2 days ago

November 12, 2025

Eric

The Senate has approved President Bola Tinubu’s request to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.

The approval followed the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.

The committee noted that the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.

This expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).

In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.

President Tinubu had on November 4th requested the approval of the National Assembly for a fresh ₦1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.

The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.

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APC’s Joe Igbokwe Calls for Dismissal of Soldier Who Stood His Ground Against Wike

Published

2 days ago

November 12, 2025

Eric

A member of the All Progressives Congress (APC), Joe Igbokwe, has called for the dismissal of the soldier who resisted the Minister of the Federal Capital Territory, Nyesom Wike.

The soldier had blocked Wike and officials of the FCTA from accessing a portion of land in the FCT.

The officer, claiming he was acting on instructions, told Wike that he would not be allowed into the property. Wike, however, questioned his authority, leading to a heated confrontation and name calling.

Reacting on Facebook, Igbokwe questioned who was behind the military officer in challenging the FCT Minister.

He wrote, “Who is this man in uniform? Of what meat is he fed? Who is beating the drum for him? This is unacceptable? His uniform has to be removed.”