President to split NNPC

chika ebuzor

July 31, 2015 6:01 AM

This decision is coming on the heels of the huge amount of money allegedly stolen by various individuals, from the oil sector.

Apparently, after various agitations and recommendations by trade union and professional bodies in the oil sector, has helped President Buhari come up with a decision.

Read IPMAN calls for split

Sources in the Nigerian National Petroleum Corporation(NNPC) say there are ongoing plans to split the group, into two.

According to The Guardian Newspaper, a source who chose to speak under anonymity said “We can’t continue to be a regulator, a revenue collector and a business, all rolled into one. That gives room for a lot of confusion, obfuscation and misrepresentation.”

Read President dissolves NNPC board

Also, Mr. Femi Adesina, a Presidential spokesperson was also quoted saying “Mr President will soon split the NNPC into two entities. One will be an independent regulator and the other one an investor vehicle.”

This decision is coming on the heels of undefinedby various individuals, from the oil sector.

chika ebuzor