The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on
Thursday revealed that the Federal Government will next week carry out a
major overhaul of the Nigerian National Petroleum Corporation, NNPC.
Kachikwu made the disclosure at the Shell Production and Exploration Oloibiri Lecture Series held in Abuja.
He
said the Federal Government’s decision was in line with its aim of
resolving the governance issues in the oil and gas sector as well as at
the NNPC.
He explained that the planned overhaul in the national oil firm had never happened at the corporation in the past 20 years.
He
said, “We are starting first with simple governance issues, those that
are not contentious, that are very rapid and that deals a lot with the
transformation of the national oil company.
“For the national oil
company, a lot of work is going on, I am sure some of you have seen the
effects but within the next one week, we are going to be announcing
some really major overhaul of the system, one that hasn’t been done in
over 20 years.
“The effect of that would be to quite frankly
unbundle the huge company into four to five main operational zones; the
upstream, downstream, midstream, refining and, of course, every other
company that is trending to the venture group.”
http://dailypost.ng/2016/03/03/breaking-fg-to-overhaul-nnpc-next-week-kachikwu/?utm_source=dlvr.it_dp1&utm_medium=facebook
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