President Muhammadu Buhari has finally revealed what will be the fate of the Nigerian National Petroleum Corporation, saying the national oil company will be divided into two successor entities under his administration.
The President, who stated this in an interview with journalists in Washington DC during a four-day visit to the United States, an extract of which was made available toSaturday PUNCH, explained that the decision would form one of the key steps of his reform of the country’s oil and gas sector.
The NNPC is considered a cesspool of corruption and fraud signposted by the non-remission of revenues from oil sale to the Federation Account. Hence, one of the first reform moves by All Progressives Congress –led administration is expected to start at the NNPC.
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