President Buhari has approved the immediate unbundling of the Nigerian National Petroleum Corporation, NNPC, into seven independent operational units. Minister of State for Petroleum Resources, Ibe Kachikwu, made this known today March 8th. According to Kachiukwu, the new units are Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.
He said 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), Babatunde Adeniran (Ventures), Isiaka Abdulrasaq Finance & Accounting and Isa Inuwa Executive Head, Corporate Planning and Services.
Meanwhile, oil workers have shut down the operations of the Nigerian National Petroleum Corporation (NNPC) nationwide following the unbundling of the corporation. Members of staff and management of the corporation arrived their various offices on Wednesday morning to discover that they could not gain entrance following the total strike.
The immediate impact of the strike will be nationwide fuel scarcity as products will not be lifted by NUPENG. It is not expected to affect the crude oil export yet except the Department of Petroleum Resources (DPR) joins in solidarity.
