President Muhammadu Buhari has approved a steering committee to oversee the process of implementation of the newly signed Petroleum Industry Act, PIA.

The steering committee, according to the statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, is headed by the Minister of State, Petroleum Resources, Timipre Sylva.

Other members are the 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.

The rest are the Special Assistant of 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 Co-ordinating Secretariat and the Implementation Working Group.

The steering committee will guide the implementation of the PIA in the course of transition of petroleum industry envisaged in the reform programme, and ensure that the new institutions created with full capability to deliver on their mandate under the new legislation.

The committee has 12 months duration for the assignment, and periodic updates will be given to Mr President.