FG Inaugurates Committee To Review Petroleum Industry Act

The Minister of Industry, Trade and Investment, Niyi Adebayo,
has inaugurated a technical committee to review the Petroleum
Industry Act 2021 and its implications on the statutory
responsibilities of his ministry.

This was disclosed in a statement issued on Monday by the
minister’s Special Adviser on Media, Ifedayo Sayo.

The statement was titled, “Ministry inaugurates technical
committee on Petroleum Act.”

It read in part, “Minister of Industry, Trade and Investment,
Adeniyi Adebayo, on Monday inaugurated a technical committee to
carry out a review of the Petroleum Industry Act 2021 and its
implications on the statutory responsibilities of the
ministry.”

It noted that the committee headed by the ministry’s Director,
Legal Services, Muhammed Alhassan, will among other things,

“Review the Petroleum Industry Act 2021 and its implication on
the Oil and Gas Export Permit being issued to exporters by
Committee For Economic Development;

“Review the Petroleum Industry Act 2021 in relation to the
Weights and Measures ACT, and its implication on the
Department;

“Highlight the implication of the ACT on the roles of CED and
Weights and Measures Departments under the Nigerian Export
Supervision Scheme;

The committee is also saddled with the responsibility of
suggesting appropriate strategy to use in bringing the NESS scheme
to The Ministry since the scheme is about exports, which is a core
mandate of the Ministry.

It is also expected to suggest ways to remedy the infractions on
the responsibilities of the Ministry, if any; and prepare relevant
letters to the Office of the President and the National
Assembly.

The review became necessary as the Act tampered significantly
with some of the statutory roles of the ministry, the Minister
stated.

“As a Ministry, some of our roles as they relate to the
administration of the Pre-shipment inspection and the Nigerian
Export Supervision Scheme had hitherto been under the Ministry of
Finance, and are now under the new commission under the Petroleum
Industry Act,” he added.

He stressed the need by the ministry to leverage the window
provided by the review of the Act to enable it to play a more
significant role under the scheme in line with its mandate.

“Therefore, your Technical committee is expected to take a
professional look at the document, come up with strategies that
will help redress the identified issues.

There is a sense of urgency in the execution of your assignment
so that we can seek the amendment of the infractions on the
statutory functions of the Ministry, especially through a request
to relevant institutions of government.

“It is important to state that your assignment is critical to
the continuity of some of our roles as a Ministry.

“I am confident in the quality of members chosen to undertake
this assignment, therefore I task you all to make far-reaching
recommendations that will help sustain and stabilize our
operations,” he said.

The committee which comprises directors in the ministry was
given two weeks to submit its report.

The Minister of Industry, Trade and Investment, Niyi Adebayo,
has inaugurated a technical committee to review the Petroleum
Industry Act 2021 and its implications on the statutory
responsibilities of his ministry.

This was disclosed in a statement issued on Monday by the
minister’s Special Adviser on Media, Ifedayo Sayo.

The statement was titled, “Ministry inaugurates technical
committee on Petroleum Act.”

It read in part, “Minister of Industry, Trade and Investment,
Adeniyi Adebayo, on Monday inaugurated a technical committee to
carry out a review of the Petroleum Industry Act 2021 and its
implications on the statutory responsibilities of the
ministry.”

It noted that the committee headed by the ministry’s Director,
Legal Services, Muhammed Alhassan, will among other things,

“Review the Petroleum Industry Act 2021 and its implication on
the Oil and Gas Export Permit being issued to exporters by
Committee For Economic Development;

“Review the Petroleum Industry Act 2021 in relation to the
Weights and Measures ACT, and its implication on the
Department;

“Highlight the implication of the ACT on the roles of CED and
Weights and Measures Departments under the Nigerian Export
Supervision Scheme;

The committee is also saddled with the responsibility of
suggesting appropriate strategy to use in bringing the NESS scheme
to The Ministry since the scheme is about exports, which is a core
mandate of the Ministry.

It is also expected to suggest ways to remedy the infractions on
the responsibilities of the Ministry, if any; and prepare relevant
letters to the Office of the President and the National
Assembly.

The review became necessary as the Act tampered significantly
with some of the statutory roles of the ministry, the Minister
stated.

“As a Ministry, some of our roles as they relate to the
administration of the Pre-shipment inspection and the Nigerian
Export Supervision Scheme had hitherto been under the Ministry of
Finance, and are now under the new commission under the Petroleum
Industry Act,” he added.

He stressed the need by the ministry to leverage the window
provided by the review of the Act to enable it to play a more
significant role under the scheme in line with its mandate.

“Therefore, your Technical committee is expected to take a
professional look at the document, come up with strategies that
will help redress the identified issues.

There is a sense of urgency in the execution of your assignment
so that we can seek the amendment of the infractions on the
statutory functions of the Ministry, especially through a request
to relevant institutions of government.

“It is important to state that your assignment is critical to
the continuity of some of our roles as a Ministry.

“I am confident in the quality of members chosen to undertake
this assignment, therefore I task you all to make far-reaching
recommendations that will help sustain and stabilize our
operations,” he said.

The committee which comprises directors in the ministry was
given two weeks to submit its report.