NNPC to be broken into 30 companies

NNPC to be broken into 30 companies - Kachikwu

Speaking at the Oloibiri Lecture Series and Energy Forum, organized by the Society of Petroleum Explorationists, SPE, Nigeria Council, in Abuja, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday, revealed that the Nigerian National Petroleum Corporation, NNPC, would become profitable again by July 2016, the corporation's first profits in 15 years.
Kachikwu also said that there would be an overhaul of the NNPC within the next week which would see the NNPC break up into about five companies, while the sub-sets of the NNPC would be broken into 30 companies.
He said:

“I am happy that we are getting the cooperation of everybody within the system, that is the only way we can guarantee work for those who work there and career paths that are sustainable.”

Kachikwu, who is the Group Managing Director of the NNPC, maintained that the expected return to profitability would also mean that the Nigerian Oil Industry will be able to compete effectively in the global oil industry.

He added:

“That is just a tip of the iceberg because by the time these 30 companies are unbundled and the Managing Directors will set programmes, you are going to meet us in an active world. It means we are all going to compete, we are going to make these things work.”

He also said that the overhaul of the NNPC and its subsidiaries, would eliminate titles such as ‘Group Executive Directors’ and replace them with Chief Executive Officers.

Vanguard

Comments

Village Head Master actor, Joseph Adu aka JAB dies at 83

Legendary Nigerian actor, Joseph Abiodun Adu popularly known as JAB Adu has died. Family sources say he died after a brief illness on Sunday morning February 28th. He was aged 83. JAB is well known for his role as Bassey Okon in the now rested Village Headmaster. He is survived by his wife and children. May his soul rest in peace Amen.

Photo: It's easier to operate in Ghana than Nigeria-Robbery suspect confesses

Read Statement from the Rapid Response Squad A robbery suspect and ex–convict, Wasami Dennis, 32, was arrested by operatives of the RRS in his hideout in Agbole Orile in Lagos. He confessed that it was easier for him to operate in Ghana than Nigeria because Ghanaian are not security conscious like Nigerians. This trans-border robbery suspect hails from Abraka town, Delta State. He was released almost a year ago from Kirikiri prison after he was convicted for a break-in-and-run robbery incidence in Festac, Lagos, Nigeria.

LIB exclusive: How Teebillz nearly killed himself this morning - he tried to jump off the Lekki-Ikoyi toll bridge

When Teebillz shared his suicide note this morning on IG while pouring his heart out about the demise of his marriage to Tiwa Savage, many of us thought/hoped he was just talking, but he wasn't. Tunji 'Teebillz' Balogun tried to commit suicide this morning by jumping off the Lekki- Ikoyi toll bridge and this is fact! According to an eye-witness named Chukwuma Ani, who witnessed the incident and was one of the men who pulled Teebillz off the bridge, he told LIB exclusively that around past 9 this morning while driving on the Lekki-Ikoyi toll bridge, a car hit his own from behind, damaging his car.

Skyglas Infomat

Search This Blog