Trade ministry inaugurates committee on Petroleum Industry Act

Mr Adeniyi Adebayo, Minister of Industry, Trade and Investment, has inaugurated a technical committee to review the Petroleum Industry Act (PIA) 2021 and its implications on statutory responsibilities of the ministry.

Adebayo, in a statement by his Special Assistant (Media), Mr Ifedayo Sayo, on Monday, noted that the Act tampered significantly with some statutory roles of the ministry.

Essentially, the technical committee, headed by the Director, Legal Services of the ministry, Muhammed Alhassan, will review the PIA 2021 and its implication on Oil and Gas Export Permit being issued to exporters by Commodity Export Department (CED).

The minister said that the committee would review the Act 2021 in relation to the Weights and Measures ACT, and its implication on the Department.

“The committee will highlight the implication of the ACT on the roles of CED and Weights and Measures Departments under the Nigerian Export Supervision Scheme (NESS).

“It will suggest an appropriate strategy to use in bringing the NESS scheme to FMITI since the scheme is about exports, which is a core mandate of the ministry.

“It will suggest ways to remedy the infractions on the responsibilities of the ministry if any; and prepare relevant letters to President Muhammadu Buhari and the National Assembly,” he said.


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