NNPC Will Be Overhauled Next Week - FG

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.

Said  Kachikwu:

“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.”