President Muhammadu Buhari has announced a steering committee that will work out measures for implementation of the newly signed Petroleum Industry Act (PIA).
The committee headed by the Honourable Minister of State, Petroleum Resources, Timipre Sylva, has 12 months to submit its report.
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 are members of the committee.
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.