The President, Main Basic Muhamamdu Buhari (retd.), has commenced implementation of the newly signed Petroleum Business Act by approving a steering committee to supervise the method.
An announcement issued on Wednesday by the Particular Adviser to the President on Media and Publicity, Femi Adesina, revealed that the steering committee shall be headed by the Minister of State, Petroleum Assets, Timipre Sylva.
Others within the committee are Everlasting Secretary, Ministry of Petroleum Assets; Group Managing Director, NNPC; Government Chairman, FIRS; Consultant of the Ministry of Justice; Consultant of the Ministry of Finance, Funds and Nationwide Planning; Senior Particular Assistant to the President on Pure Assets; Barrister Olufemi Lijadu as Exterior Authorized Adviser; whereas the Government Secretary, Petroleum Know-how Improvement Fund, will function Head of the Coordinating Secretariat and the Implementation Working Group.
In line with the assertion, “The first accountability of the steering committee shall be to information the efficient and well timed implementation of the PIA in the middle of transition to the petroleum trade envisaged within the reform program, and be sure that the brand new establishments created have the total functionality to ship on their mandate underneath the brand new laws.
“The committee has 12 months period for the project, and periodic updates shall be given to Mr President.”