President Muhammadu Buhari on Wednesday, approved a committee to commence the implementation of the newly signed Petroleum Industry Act (PIA).

The steering committee which is headed by the Minister of State, Petroleum Resources, Timipre Sylva, has 12 months duration for the assignment, and periodic updates will be given to the President.

The primary responsibility of the steering committee is; 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.

Other members of the committee include: 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.

Recall that President Buhari signed the Petroleum Industry Bill (PIB) into law on Monday, August 16, 2021.