Minister of State for Petroleum Resources, Timipre Sylva, has inaugurated the Steering Committee for the Implementation of the Petroleum Industry Act signed by President Muhammadu Buhari on Monday.
This is coming a day after President Buhari approved the constitution of the committee after which he directed them to immediately commence the implementation of the PIA.
The president also gave the committee a deadline of 12 months.
Inaugurating the committee, the minister said, “To get us started on this all-important assignment, I hereby inaugurate the Steering Committee, as well as the Implementation Working Group/Coordinating Secretariat, and wish us all success in our collective quest to change the face of the Nigerian petroleum industry, to position it as a proactive catalyst for spurring sustainable economic growth of our beloved country,” the minister told members of the committee.
“Given the timeline set by Mr President and the urgency of the implementation requirement, there is no gainsaying in the fact that total commitment to this assignment is a critical success factor.
“Undoubtedly, members of the steering committee possess the capacity to contribute to the transformation of the petroleum industry, and unlock the potentials that are replete in the entire value chain.”
The minister thereafter urged the committee to live up to its responsibility as Nigerians and foreign stakeholders expect a lot from it.