The Ministry of Industry, Trade and Investment has set up a technical committee to examine the impact of the Petroluem Industry Act (PIA) on issuance of the oil and gas export permits.
A statement issued by the ministry said the Minister of Industry, Trade and Investment, Niyi Adebayo, while inaugurating the committee said the review had become nececsary in view of some alterations in the statutory roles of the ministry.
He said the comittee will review the PIA 2021 implications on the statutory responsibilities of his ministry.
According to the minister, the committee is headed by the ministry’s Director, Legal Services, Muhammed Alhassan, will among other things.
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He asked the committe to “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;
“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.
“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.
“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,” he said.
