By Deji Elumoye
The Minister of State for Petroleum Sources, Hon Timipre Sylva, has stated the Nigeria Nationwide Petroleum Company (NNPC) is not going to be scrapped however commercialised if the Petroleum Trade Invoice (PIB) is handed into legislation.
Sylvia, who spoke with newsmen on Monday night after a closed-door assembly with the management of the Nationwide Meeting, declared: “I’ve heard a lot noise about NNPC being scrapped, that’s not envisaged within the invoice in any respect”.
Relatively, he stated the “NNPC can be commercialised, if on the finish of the day the PIB was handed by the Nationwide Meeting and assented to by the President”.
The Minister additionally hinted that authorities by means of the brand new invoice goals to develop the mid stream of the oil sector.
Mentioned he: “If you’re speaking about reworking the business, the brand new factor we’re growing is the mid stream. That’s the pipeline sector, that sector within the mid stream and the downstream as a result of the framework shouldn’t be absolutely developed. So we now have supplied robustly for the expansion of the midstream sector.”
On different particulars of the PIB, Sylvia hinted that host oil communities “have the most effective deal and its particulars you’ll hear within the subsequent few days”.
He added that the invoice will deal with the PEF whereas the PPPRA is not going to exist within the type it’s immediately.