The Petroleum Products Pricing Regulatory Agency (PPPRA) announced yesterday that its Acting Executive Secretary, Mrs Sotonye Iyoyo has stepped down.
Mr. Victor Shidok has been appointed as the Acting Executive Secretary, to replace her, until the Federal Government reaches a decision on the replacement.
The media received the information from the Assistant General Manager, Corporate Affairs, PPPRA, Mr. Lanre Oladele.
According to Oladele, Mrs Iyoyo has retired.
Mrs Sotonye Iyoyo took over as Acting Executive Secretary in February 2016.
She came into the PPPRA with over 20 years’ experience in refining, shipping and logistics, having worked in all the country’s refineries within the last 20 years.
Prior to her appointment at the PPPRA, she was in the Refining and Technology Directorate of the NNPC.
During her time in the PPPRA, the liberalization policy of the Federal Government was “midwifed” and birthed, while she ensured that the PPPRA played a significant role in guaranteeing stable supply of petroleum products at regulated prices.
While speaking at a function, a couple of days ago, Iyoyo had stated that while celebrating the last 13 years of the PPPRA, she is aware that the challenges before it in attaining full and total deregulation of the downstream petroleum sector are daunting.
“But we believe that with the continued support and cooperation and advice of all our stakeholders and the generality of Nigerians, our task would be made easier,” she said.
She had also stated that the Appropriate Pricing Framework Policy put in place by Minister of State for Petroleum, Dr Ibe Kachikwu in May 2016 had helped in achieving key deregulation pre-conditions such as full cost recovery, free entry and free exits of players and global competitive products pricing through import/export parity policy.
The new boss, Victor Shidok, is bringing to the position, decades of experience in the petroleum industry and a wide knowledge of issues concerning downstream sector operations.
Prior to his emergence as the Acting Executive Secretary, Shidok was General Manager, Operations of the PPPRA.