The Minister of State for Petroleum Sources, Mr Timipre Sylva has assured that no job will probably be misplaced within the nation’s petroleum sector following the signing of the Petroleum Trade Invoice into legislation.
President Muhammadu Buhari had on Monday signed the invoice, thus offering a authorized, governance, regulatory and financial framework for the Nigerian petroleum trade, the event of host communities, and associated issues.
Though there have been fears in some quarters over the destiny of staff within the petroleum sector, the minister says the transfer will as a substitute create extra jobs.
“We’ve got already made provisions within the legislation to make sure that no job is misplaced within the oil trade on account of the PIA,” the Minister mentioned throughout an interview on Channels Tv’s Politics In the present day on Wednesday.
“So, no job will probably be misplaced on account of the Petroleum Trade Act. All jobs within the petroleum trade will probably be intact.
“That was already taken under consideration, we mentioned with labour extensively within the technique of drafting the invoice.”
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When requested about the advantages for the oil staff, the Minister mentioned he believes the employees have extra to achieve because the authorities doesn’t pay as a lot because the non-public sector.
The Minister of State for Petroleum Sources, Timipre Sylva addressed reporters in Abuja on August 17, 2021. Sodiq Adelakun/Channels Tv
Whereas noting that the commercialisation of the Nigerian Nationwide Petroleum Company (NNPC) will probably be helpful to the employees, Sylva defined that the transfer wouldn’t create any drawback in any respect.
The Minister additionally reacted to funds accruable to the federation account by the nationwide agency, noting that cash will nonetheless be disbursed to the nationwide account.
He, nonetheless, defined that NNPC won’t be in control of the federation crude, explaining that the Offstream Regulatory Fee will promote the crude and remit the cash to the nation’s account.
Two days after the invoice was signed, the President accredited a committee to right away start the implementation of the Petroleum Trade Act (PIA).
The steering committee, which has 12 months for the project, is headed by the previous Bayelsa State chief.