President Muhammadu Buhari has approved a steering committee to oversee the process of implementation of the newly signed Petroleum Industry Act .The president, who announced this while marking the passage the PIA, which he signed into law on August 16, said Nigeria lost an estimated $50 billion worth of investments in 10 years, created by the uncertainty of non-passage of the PIB, lack of progress and stagnation in the petroleum industry.
He, therefore, directed all relevant Ministries, Departments and Agencies of government to fully cooperate in ensuring the successful and timely implementation of the PIA.
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