The Organised Private Sector has called on the government to consider two regulatory bodies, each focusing on the downstream and upstream sectors of the petroleum industry and on the entire gamut of technical and commercial issues in each of the sub-sectors.
The position of the OPS was delivered in a press briefing addressed in Lagos Wednesday by the Director General, Nigerian Employers Consultative Association, Mr. Segun Oshinowo and DG MAN, Mr Segun Ajayi-Kadiri.
Oshinowo said: “A cursory look at some of the provisions of the PIGB revealed the likely emergence of the Petroleum Regulatory Commission (PRC) – an omnibus or humongous commission that will be empowered to regulate the entire petroleum sector.”
