ABUJA: The Trade Union Congress(TUC) has called for the strengthening of the Petroleum Products Pricing Regulatory Agency(PPPRA), as well as the Department of Petroleum Resources (DPR), to oversee the downstream and the upstream sectors of the Petroleum Industry respectively.
Making this call on Tuesday in Abuja, at the 2018 Workers’ Day celebration, the President,Trade Union Congress of Nigeria, Comrade Bobboi Kaigama commended the 8th National Assembly for passing the first part of the Petroleum Industry Bill(PIB) known as the Petroleum Industry Governance Bill (PIGB).
He however noted that the TUC insists on two separate regulators for the upstream and the down stream sectors of the industry for the benefit of Nigerians.
Kaigama stressed that government should ensure that the Oil and Gas Industry operates in line with international best practice in the interest of the nation.
He emphasized the need for two independent regulators as obtained prior to the proposed Petroleum Industry Governance Bill (PIGB), one for the upstream and one for the downstream sectors be maintained.
According to him, “PPPRA which has been saddled with the responsibility as commercial regulator since 2003 and has the relevant experience, critical stakeholders in the Governing Board, structure and personnel, to superintendent the downstream sector should be strengthened to form the nucleus of the new regulatory body.
“The DPR should be strengthened to oversee the upstream sector” he said.
He however kicked against the five percent fuel levy hidden in the PIGB,adding that the levy has to be removed immediately, as the excuse that the money would be used to fund Petroleum Equalization Fund(PEF) is not tenable.