The Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed that the President has approved the implementation of Petroluem Industry Act.
He made this statement on Wednesday, he said that the President, Major General Muhamadu Buhari (retd.), has commenced implementation of newly signed Petroleum Industry Act by approving a steering committee to oversee the process.
Others in the 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.”