A steering committee to oversee the commencement of implementation of the newly signed Petroleum Industry Act, PIA, has been approved by President Muhammadu Buhari.
In a statement made available to iBrandTV by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina, the steering committee is headed by the Minister of State, Petroleum Resources, Chief Timipre Sylva.
According to the statement, other members are: 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, Barrister 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 statement explained that “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.”
It further stated that the committee has 12 months duration for the assignment, and that periodic updates will be given to Mr President.
Recall that President Buhari had on Monday signed the Petroleum Industry Bill, PIB, into law.