President Muhammadu Buhari has approved a steering committee for the implementation of the new Petroleum Industry Act (PIA) in the country. According to a release by his spokesman, Femi Adesina, the panel to be chaired by the Minister of State for Petroleum Resources, Timipre Sylva, would oversee the process of the implementation of the new law.
Other members of the committee were: Permanent Secretary, Ministry of Petroleum Resources, Group Managing Director, NNPC, Executive Chairman, FIRS, Representative of the Ministry of Justice, Representative of the Ministry of Finance, Budget and National Planning, Senior Special Assistant to the President on Natural Resources, Mr. Olufemi Lijadu as External Legal Adviser, while the Executive Secretary, Petroleum Technology Development Fund, will serve as Head of the Coordinating Secretariat and the Implementation Working Group.
“The primary responsibility of the steering committee shall be to guide the effective and timely implementation of the PIA in the course of transition to the petroleum industry envisaged in the reform program, and ensure that the new institutions created have the full capability to deliver on their mandate under the new legislation. “The committee has 12 months duration for the assignment, and periodic updates will be given to Mr President,” the statement read in part.