The Federal Government has begun the implementation of the Petroleum Industry Act (PIA) with the inauguration of a Steering Committee to superintend the process.
Inaugurating the committee, President Muhammadu Buhari named the Minister of State for Petroleum Resources, Chief Timipre Sylva as the chairman.
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
Persecondnews reports that the Senior Special Assistant to the President on Natural Resources, Mr Olufemi Lijadu, will serve as External Legal Adviser while
the Executive Secretary, Petroleum Technology Development Fund, will serve as the Head of the Coordinating Secretariat and the Implementation Working Group.
The committee has 12 months to complete the assignment with periodic updates to the President.
According to a statement, 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.
The Committee will also ensure that the new institutions created have the full capability to deliver on their mandate under the new legislation.
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