Buhari approves Implementation Committee for Petroleum Industry Act 2021

*Nigerian President Muhammadu Buhari discloses the primary responsibility of the Petroleum Industry Act (PIA) 2021 Steering Committee is to guide the effective and timely implementation of PIA in the course of the Federal Government’s reform programme in petroleum industry

Gbenga Kayode | ConsumerConnect

Nigerian President Muhammadu Buhari has presided over the weekly Federal Executive Council (FEC) meeting held Wednesday, August 18, 2021, in Abuja, FCT.

Prior to the FEC meeting Wednesday, President Buhari while making a remark on the new Petroleum Industry Act (PIA) 2021 with the Federal lawmakers in National Assembly (NASS) at the Presidential Villa, disclosed that the Federal Government approved a committee to immediately commence the implementation of the PIA he recently signed into law.

President of the Senate Ahmed Lawan was said to have led the leadership of the National Assembly to the meeting with President Buhari in the Presidential Villa, in Abuja.

H.E Chief Timipre Sylva, Honourable Minister of State for Petroleum Resources, appointed Head of PIA Steering Committee

ConsumerConnect reports H.E Chief Timipre Sylva, Honourable Minister of State for Petroleum Resources, has been appointed to head the PIA 2021 Steering Committee, which has 12 months duration for the assignment.

It was learnt he also hinted at the meeting with the lawmakers, that relevant government Ministries, Departments, Agencies (MDAs) have been tasked to work with Chief Sylva towards the successful completion of the implementation process of the PIA 2021.

The President, however, decried that the lack of political will has hampered the growth of the industry, in which he disclosed the country has lost about $50 billion in the last 10 years.

He is, however, optimistic that the new Act will coordinate the activities of the Nigerian National Petroleum Corporation (NNPC) and reposition it for further progress.

Mr. Femi Adesina, Special Adviser to the President on Media and Publicity, in a statement, said: “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.”

The committee has other members, including Permanent Secretary of the Ministry of Petroleum Resources, Group Managing Director of NNPC, Executive Chairman of Federal Inland Revenue Service (FIRS), Representatives of the Ministry of Justice, and the Ministry of Finance, Budget and National Planning.

Olufemi Lijadu, Senior Special Assistant (SSA) to President on Natural Resources, is the External Legal Adviser, while the Executive Secretary of Petroleum Technology Development Fund (PTDF) will serve as Head of the Coordinating Secretariat and the Implementation Working Group of the PIA.

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