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News

FG Set to Break NNPC Into 2 Companies.

Farouk Mohammed
By Farouk Mohammed
Published: December 8, 2015
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The Nigerian Government may soon be breaking the Nigerian National Petroleum Corporation into two companies – the Nigeria Petroleum Assets Management Company, NPAM and the National Oil Company, NOC .

FG is also seeking to break up the PIB and is replacing it first with a law to overhaul the petroleum sector with the aim of closing loopholes that bred corruption.

The NOC will be an “integrated oil and gas company operating as a fully commercial entity and will run like a private company”. NPAM, on the other hand, is expected to manage assets where the government is not obligated to provide any upfront funding.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Kim Kardashian and Kanye West Name Newborn Son ‘Saint West’.
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