Wednesday 6 January 2016

President Buhari to set up inter-ministerial committee to speed up NNPC reform

Nigerian National Petroleum Corporation (NNPC)
An inter-ministerial committee will soon be inaugurated to speed up the planned restructuring of the Nigerian National Petroleum Corporation (NNPC).

President Muhammadu Buhari said this during a chat with the Vice President of the International Finance Corporation (IFC), Jin-Yong Cai, at the Presidential Villa in Abuja on Tuesday.

Reiterating his administration’s determination to boost Nigeria’s revenue, President Buhari said that the level of corruption in the current structure of the NNPC would be a limiting factor if not addressed.

Mr Jin-Yong Cai, expressed confidence in President Buhari’s approach at improving the Nigerian economy.

According to the President’s Spokesman, Mr Femi Adesina, the IFC Vice President projected that with Buhari’s reforms, the NNPC could become Africa’s largest company.
“You have brought monumental changes since you got to power. You have brought in strong leadership and Nigeria has the opportunity under you to become highly reputable.
“In NNPC, you can create an entity that is dominant in Africa, and this is the right time to do it, with the momentum you have created,” he was quoted to have told the Nigerian President.

Credit: Channels

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