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

Five Fresh Lassa Fever Cases Confirmed In Plateau

Dr. Kuden Kamshak, the Plateau State Commissioner for Health, has confirmed that five cases of Lassa fever have been detected in Jos, the state capital. However, he said that the patients were responding to treatment. He said: “So far, we have only five cases and they are responding to treatment. We have advised doctors not to keep patients for so long in the hospital to avoid contact and spread.”

Earthquake Shakes Afghanistan, Pakistan And India

A 6.2-magnitude earthquake has struck northeast Afghanistan near the country’s borders with Pakistan and Tajikistan, according to the US Geological Survey (USGS), with tremors being felt as far as New Delhi. The USGS said Saturday morning’s earthquake, initially reported as magnitude 6.4, was at a depth of 203km and centred 82km southeast of the town of Feyzabad, capital of the Afghan province of Badakhshan.

Cesc Fabregas the ‘Rat’ who turned against Mourinho? Nothing could be further from the truth [Telegraph]

Jose Mourinho’s sacking at Chelsea has led to all sort of plot twists and intrigue. Far from a routine results-oriented sacking, there was a lot more to Mourinho’s sacking than meets the eye, the conspiracy theorists insist. A narrative of a dressing room mutiny has persisted throughout the season, and ultimately proved to be Mourinho’s downfall – again if you believe in the smoke and mirrors stuff.

Skyglas Infomat

Search This Blog