Section 18 Petroleum Industry Act 2021
Section 18 Petroleum Industry Act 2021 is about Commission Chief Executive and Executive Commissioners. It is under Part III (The Commission) of Chapter 1 (Governance and Institutions) of the Act.
(1) The Commission Chief Executive is the accounting officer and shall be responsible for the administration of the Commission.
(2) There shall be six executive commissioners for the Commission with each responsible for one of the following-
(a) Exploration and Acreage Management;
(b) Development and Production ;
(c) Health, Safety, Environment and Community;
(d) Economic Regulation and Strategic Planning;
(e) Corporate Services and Administration ; and
(f) Finance and Accounts.
(3) A person to be appointed as Commission Chief Executive and as an executive commissioner of the Commission shall have extensive managerial, technical or professional knowledge of the upstream petroleum operations with a minimum of 15 years post qualification cognate experience.
(4) The Commission Chief Executive shall be appointee! on such terms and conditions as may be set m1t in the letter of appointment, except as otherwise provided for in this Act.
(5) An Executive Commissioner shall be appointed on such terms and conditions as n1ay be set out in the letter of appointment, except as otherwise provided for in this Act.
(6) The Commission Chief Executive shalI be appointed for an initial term of five years and may be re-appointed for a further term of five years, subject to confirmation by the Senate.
(7) The President may, not later than 90 days prior to the expiration of the tenure of the Commission Chief Executive or an cxcct1tive commissioner, re-appoint the Commission Chief Executive or Executive Commissioner or appoint another qualified person.
(8) A person shall not be appointed as a Commission Chief Executive or an Executive Commissioner, where the person-
(a) is Iikely to be in breach of conflict of interest provisions under the Companies and Allied Matters Act or regulation made under this Act:
(b) has a financial interest in any business connected, directly or indirectly with the petroleum industry;
(c) is engaged in any activity for remuneration or otherwise connected with the petroleum industry ;
(d) is a relative of a person who has an interest or is engaged in any of the activities under paragraphs (a)-(c). provided that-
(i) such person may be appointed Commission Chief Executive or an Executive Commissioner if he dee I arcs his interest and makes appropriate arrangements to ensure the avoid a nee of a con met of interest,
(ii) the President is satisfied that the interest or activity shall not interfere with the person’s impartial discharge of his duties as the Commission Chief Executive or an executive commissioner, or
(iii) the financial interest is terminated prior to the appointment Inking effect; or
(e) has, under the laws in force in any country-
(i) been adjudged or declared bankrupt or insolvent and has not been discharged,
(ii) made an assignment Lo, or arrangement or composition with his creditors, which has not been rescinded or set aside,
(iii) been declared to be of unsound mind,
(iv) been convicted of any criminal offence by a court of competent jurisdiction except for traffic offences, or
(v) been disqualified or suspended from prnctisi11g his profession by the order of a competent authority.
