President Muhammadu Buhari on Wednesday approved the Minister of State for Petroleum Resources, Timipre Sylva, to head the steering committee to oversee the implementation of the new Petroleum Industry Act.
This is just as the President who returned last Friday from an18-day visit to the United Kingdom presided over the weekly virtual Federal Executive Council (FEC) meeting at the State House, Abuja, on Wednesday.
Other members of the steering committee, which has 12 months to complete its assignment 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.
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 programme, and ensure that the new institutions created have the full capability to deliver on their mandate under the new legislation.
Though the committee has 12 months duration for the assignment, periodic updates will be given to the President.
Meanwhile, the FEC meeting is underway at the Conference room of the First Lady’s office with President Buhari presiding.
The virtual meeting is physically being attended by Vice President, Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha; National Security Adviser (NSA), Major-General Babagana Monguno (rtd) and Chief of Staff to the President, Prof Ibrahim Gambari, and some ministers.