The federal government has approved the unbundling of the Nigerian National Petroleum Corporation (NNPC) into seven independent operational units with immediate effect.
The new units include those for Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.
The units would be headed by following officials: Bello Rabiu for Upstream; Henry Ikem-Onih in charge of Downstream Unit; Anibor Kragha will ovesea the Refineries Unit; Saidu Mohammed will supervise Gas & Power, while Babatunde Adeniran, Ventures.
The Group Executive Director in charge of Finance & Services would be Isiaka Abdulrazaq, while the Executive Head, Corporate Services will be Isa Inuwa. The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, made the announcement yesterday in Abuja explaining further that five of the seven operational units will be strictly business-focussed in line with global best practices of national oil companies.
The minister also announced the new heads of the units. According to him, President Muhammadu Buhari already approved the unbundling of the NNPC and the appointment of the new chief executive officers of the entities.
The minister assured the workers in the oil and gas industry that no worker will loss his job due to the unbundling exercise and that government will ensure that all the units must respect the labour laws.
He clarified that the new units must be profitable and maintained their operations without dependence on government interventions.
Source: Daily Trust