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Ibe Kachikwu denies saying company will be unbundled into 30 units
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We will focus on price modulation, not subsidy removal – Kachikwu
Kachikwu said further that the NNPC would be split into Upstream, Downstream, Gas & Power Marketing, Refineries and Ventures, Corporate Planning & Services and Finance and Accounts, all of which will run as independent units.
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Kachikwu made the comment on Tuesday, March 8, 2016, during a briefing in Abuja.
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“Subset is the unbundling. It is not a direct unbundling of NNPC into 30. It means that the subsets of NNPC are being unbundled into smaller numbers of companies. It is totally a different thing and the press got it wrong, please,” he said.
Kachikwu said further that the NNPC would be split into Upstream, Downstream, Gas & Power Marketing, Refineries and Ventures, Corporate Planning & Services and Finance and Accounts, all of which will run as independent units.
The minister’s announcement has led oil workers to shut down NNPC offices and facilities around the country.
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