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Wednesday, March 09, 2016

Buhari unbundles NNPC into seven units

Buhari unbundles NNPC into seven units

The Nigerian National Petroleum Corporation, NNPC, has been unbundled into seven independent operational units by President Muhammadu Buhari.

The Minister of State for Petroleum Resources, Ibe Kachikwu, who made this disclosure in Abuja on Tuesday, noted that five of the seven operational units would focus mainly on business, in line with global best practices of national oil sectors.

The new units include those for Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.

Each of the units would be headed by chief executive officers, namely Bello Rabiu for Upstream; Henry Ikem-Onih (downstream); Anibor Kragha (Refineries); Saudu Mohammed (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.

All appointments, according to Kachikwu are with immediate effect.

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