Ministerial List: Who Becomes Tinubu’s Minister of Petroleum?
- Nigerians are anxious for the release of President Bola Ahmed Tinubu's ministerial list, which is expected to be released later on Thursday, July 20
- It was gathered that President Tinubu had already sent his ministerial list to the national assembly for confirmation
- Meanwhile, the position of the petroleum minister has become a trending topic and has been regarded as the most sensitive office
Nigerians and political enthusiasts will be holding their nerves in anxiety as they await the House of Senate to reel out the ministerial list of President Bola Ahmed Tinubu.
Senate President Godwill Akpabio has reportedly received the list, and he's expected to unveil it at plenary on Thursday, July 20, BBC Pidin reported.
Source: Facebook
However, the ministerial position that many Nigerians are anticipating is the office of the minister of petroleum. This post was held and controlled by ex-President Muhammadu Buhari in the previous administration.
This ministry plays a pivotal role in the economy of Nigeria, and if left under the stewardship of the wrong hands, Nigeria might be plunged into a severe economic and political crisis.
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Since President Tinubu assumed office on Monday, May 29, many issues, intrigue and controversies have been laced around the oil and gas sector.
Tinubu stirred up these conversations about the oil and gas sector when he declared the removal of fuel subsidies in his inauguration speech.
This declaration caused a rapid rise in fuel prices and inflation in the price of commodities in the market.
Meanwhile, what is now unclear is whether President Tinubu would take a cue from his predecessors and declare himself as minister of petroleum.
Ex-President Goodluck Jonathan was an exception when he left the position under the stewardship of Diezani Alison-Madueke.
This decision by Jonathan did not end up well, with many controversies on theft, mismanagement and hoarding.
However, if President Tinubu decides to take this route, whoever he appoints has a lot of work to do.
Responsibilities of Petroleum minister
1. Under the Petroleum Act, the power of the minister of petroleum resources all parts of the industry and they are saddled with the responsibility of regulating policies that would determine the commercial value of oil products.
2. The petroleum minister is also responsible for formulating board policies and programmes to develop the oil and gas sector.
This also means that the minister is in charge of all matters concerning the marketing of crude oil, natural gas, petroleum products and their derivatives.
3. The minister is also saddled with adjusting policies for the oil and gas sub-sectors and formulating policies to bring private investment.
4. The minister is also in charge of licensing all Petroleum and gas operations and activities in the country and policies on research and development of the oil and gas sector.
5. The minister monitors matters of Crude Oil, OPEC, Nigerian Gas Company, Nigerian Liquefied Natural Gas, Department of Petroleum Resources, and Nigerian Petroleum Development Company.
6. They manage and coordinate international affairs that affect the nation's oil and gas sector.
Agencies under minister of petroleum
However, there are seven agencies under the minister of petroleum, and they include:
1. Nigeria National Petroleum Corporation (NNPC) now as di Nigerian National Petroleum Company Limited (NNPCL).
2. Nigerian Upstream Regulatory Commission (NURC).
3. Petroleum Training Institute (PTI).
4. Petroleum Technology Development Fund (PTDF).
5. Nigeria Nuclear Regulatory Authority (NNRA).
6. Nigerian Content Development Management Board (NCDMB)
7. Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
President Tinubu Seeks Senate Confirmation for NEDC Board Members
Meanwhile, the Senate has been asked to confirm the appointments of members and Executive Management of governing board of NECDC.
President Bola Ahmed Tinubu, in a letter written to the Senate, asked for the NEDC board to be confirmed in line with the 2017.
Act The list was earlier rejected by the 9th Senate following an outcry from stakeholders and governors from the North East that they were not carried along.
Source: Legit.ng
