President Muhammadu Buhari on Wednesday has approved the implementation framework for the Petroleum Industry Act (PIA).
The President has also constituted a steering committee assigned with the duty of overseeing the process of the implementation of the PIA.
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 was also given a 12 month-mandate to complete the assignment, while briefing the President periodically.
The steering committee will be headed by the Minister of State, Petroleum Resources, Timipre Sylva.
Other members of the committee includes; 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.
