President Muhammadu Buhari on Wednesday, approved implementation committee headed by the Minister of state on petroleum, Chief Timipre Sylva, to immediately commence implementation of the Petroleum Industry Act in 12 months.
President Buhari gave the approval while speaking on the PIB, which he signed into law on Monday during a meeting with the leadership of the National Assembly led by the President of the Senate, Dr. Ahmad Lawan.
Other members of the committee 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 Executive Secretary, Petroleum Technology Development Fund, will serve as Head of the Coordinating Secretariat and the Implementation Working Group.
Meanwhile, Senate President Lawan, while speaking after the President’s statement on the assented Petroleum industry bill at the State House, Abuja, cautioned against tampering or manipulation in the disbursement of the 3 per cent (500 million dollars) compensation which accrues to host communities by the appointed people.
He urged prudent deployment of the money, specifically earmarked to engender development in the host communities and end their suffering.