President Muhammadu Buhari has appointed Minister of State for Petroleum, Timipre sylva, to chair the steering committee for the implementation of the newly signed Petroleum Industry Act.
Buhari signed the Petroleum Industry Bill (PIB) into law immediately his return from medical t(PIB) into law immediately his return from medical trip to London, United Kingdom on Monday.
The appointment of the steering committee signaled the commencement of the implementation of the new Act.
This was disclosed on Wednesday in a statement signed by the President’s special Adviser on Media and Publicity, Mr Femi Adesina.
Among members of the steering committee 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.
According to the 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, 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.”