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Home Energy FG splits PIB, to break NNPC into two companies

FG splits PIB, to break NNPC into two companies

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The Federal Government has broken up the controversial Petroleum Industry Bill into different versions and is proposing splitting the Nigerian National Petroleum Corporation, NNPC, into two companies — the Nigeria Petroleum Assets Management Company (NPAM) and a National Oil Company (NOC)  that would be run on commercial lines and partly privatised.

According to a report obtained from Reuters, Monday, the Federal Government is breaking up the PIB and is replacing it first with a law to ‎overhaul the petroleum sector with the aim of closing loopholes that bred corruption.

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