Home News Senate passes PIGB, scraps NNPC and establishes 3 new agencies
Senate passes PIGB, scraps NNPC and establishes 3 new agencies
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Senate passes PIGB, scraps NNPC and establishes 3 new agencies

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TVC N. Bukola Saraki passed a message via his twitter handle that he has indeed kept his promise. The Senate however, scraped the Nigeria National Petroleum Corporation (NNPC). This is following the passage of the controversial Petroleum Industry Governance Bill (PIGB). It was gathered that the Senate had on Thursday May 25, considered and passed the much talked about PIGB, after its clause by clause consideration.

In place of NNPC, the Senate recommended the establishment of three new agencies to effectively manage the largely troubled oil and gas sector.Among the agencies established in the bill, is the Nigerian Petroleum Regulatory Commission (NPRC), which shall be headed by a Chairman.

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