JUST IN: Senate passes PIGB, scraps NNPC and establishes 3 new agencies

- The Nigerian Senate has scrapped NNPC
- The upper legislative chamber also established three new agencies
- It said the Petroleum Product Pricing Regulatory Agency (PPPRA) is
now under the new commission
The Nigeria National Petroleum Corporation (NNPC) has been scraped by
the Senate. This is following the passage of the controversial Petroleum
Industry Governance Bill (PIGB).
NAIJ.com gathered that the Senate had on Thursday May 25, considered
and passed the much talked about PIGB, after its clause by clause
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In place of NNPC, the Senate recommended the establishment of three new
agencies to effectively manage the largely troubled oil and gas sector.
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Among the agencies established in the bill, is the Nigerian Petroleum
Regulatory Commission (NPRC), which shall be headed by a Chairman.