President Muhammadu Buhari has commenced the implementation of the newly signed Petroleum Industry Act (PIA) by approving a steering committee to oversee the process.
The steering committee is headed by the Minister of State, Petroleum Resources, Chief Timipre Sylva.
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 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 programme, and ensure that the new institutions created have the full capability to deliver on their mandate under the new legislation.
According to a statement by the presidential spokesman, Femi Adesina, the committee has a 12 months duration for the assignment, and is expected to give periodic updates to the president.
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