Timipre Sylva Inaugurates Steering Committee To Implement PIA

The Minister of State for Petroleum Resources, Timipre Sylva has Inaugurated a steering committee for the implementation of the Petroleum Industry Act (PIA)

The minister inaugurated the committee in Abuja on Thursday with a mandate to change the face of the Nigerian petroleum industry and position it as a proactive catalyst for stimulating sustainable economic growth of the country.

“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,” he said.

Sylva told the committee members to live up to their responsibility and do all it takes to deliver on the assignment in a manner that best achieves the collective vision for bringing the anticipated gains to the country.

“Undoubtedly, members of the steering committee possess the capacity to contribute to the transformation of the petroleum industry and unlock the potentials that abound in the entire value chain,” he said.

Mr. Sylva also explained that the implementation working group/coordinating secretariat has the onerous task of developing the briefs that will be presented to the committee for consideration and approval.

The minister lamented the lack of political will which has affected the growth of the petroleum industry and led to a loss of circa $50 billion in the last 10 years.