President Muhammadu Buhari will unveil an implementation committee for the Petroleum Industry Act.
THISDAY reports that the committee may be chaired by the Minister of State for Petroleum Resources, Mr Timipre Sylva.
The committee which has 12 months to carry out its tasks, would be saddled with the responsibility of establishment of Nigeria Upstream Regulatory Commission, Nigeria Midstream and Downstream Regulatory Authority as well as the corporatisation of the Nigerian National Petroleum Corporation to a Limited Liability Company, which will now be called Nigerian National Petroleum Company Limited.
The committee would also be tasked with the responsibility of determining the assets and liabilities of the NNPC, which would be transferred to NNPC Limited.