The Federal Government says the Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund are all officially scrapped and no longer exist.

Moving onto Economic matters now, The Federal Government says the Department of Petroleum Resources, the Petroleum Products Pricing Regulatory Agency and the Petroleum Equalisation Fund are all officially scrapped and no longer exist.

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

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

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.

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