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Monday, July 27, 2015
Nigeria’s state-run firm NNPC could wind up as two state entities if plans in the works by the country’s president, Muhammadu Buhari, pan out. In an attempt to eliminate corruption in the oil sector, splitting the company in two could be the option Buhari goes for.
A presidential spokesman said on July 25, “Mr President will soon split the NNPC into two entities. One will be an independent regulator and the other one an investor vehicle,” said spokesman Femi Adesina.
There was no timeframe provided for the split.
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