JUST IN: Petroleum Industry Act to become operational in one year, Sylva heads committee

President Muhammadu Buhari has inaugurated a steering committee to oversee the implementation of the newly signed Petroleum Industry Act (PIA), with a 12-month timeline to make the Act fully operational.

According to a statement issued on Wednesday by the Special Adviser to the President on Media and Publicity, Femi Adesina, the steering committee will be headed by the Minister of State for Petroleum Resources, Timipre Sylva.

The statement also listed the Permanent Secretary, Ministry of Petroleum Resources; Group Managing Director, NNPC; Executive Chairman, FIRS; Representative of the Ministry of Justice; and Representative of the Ministry of Finance, Budget and National Planning as other members of the Committee.

Also, the Senior Special Assistant to the President on Natural Resources; Barrister Olufemi Lijadu will work with the committee 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.

READ ALSO: Buhari’s assent of Petroleum Industry Bill, brazen injustice to South-South —Dan Orbih

The statement read, “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.”

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