THE Federal Government has laid the foundation of the Department of Petroleum Resources, DPR, building in Abuja.
The majority of Nigeria’s petroleum business’s operation, which DPR regulates, takes place within the southern a part of the nation, with Lagos internet hosting the pinnacle workplaces of business gamers.
On completion, the DPR, which has been closer to operators, including the International Oil Companies, indigenous companies, services providers, in Lagos since inception, would be moved to Abuja.
The move is coming at a time the National Assembly commenced work on the Petroleum Industry Bill, PIB, that is expected to scrap the DPR and replace it with the Nigerian Upstream Regulatory Commission.
Speaking at the foundation laying ceremony, the Minister of State for Petroleum Resources, Timipre Sylva said the move became necessary in order to ensure holistic coordination of the industry.
Sylva said with the new office, the government is looking forward to creating enabling environment to support oil and gas business across value chain for operators, service providers, investors, relevant government agencies, international collaborators, and other stakeholders.
According to him, the government is looking for a new DPR “for the good of our stakeholders and the benefit of the Nigeria Oil and Gas industry.” He assured Nigerians that the PIB would become law in a few months time.
Also speaking at the event, Director of DPR, Sarki Auwalu said: “That is the best for the sector that needs to really work closely with other stakeholders when they are in Abuja. We already have a mature basin in the Niger Delta, now we are looking at other basins which are better managed from this centre position.
“The basic benefit is to come closer to the policy-making decision. The minister is here, the President is here and the parliament is here. So it is better that the highest revenue-generating agency should be here.”
