Restructuring of NNPC Generates More Reactions Among Nigerians

Member House of Reps Committee on Petroleum Downstream, Hon. Jarigbe Agom, Evans Disiru a Chartered Accountant discussing NNPC restructuring on NTA Good Morning Nigeria

The restructuring of the Nigerian National Petroleum Corporation NNPC as announced by the Minister of state for Petroleum Ibe Kachicwu has continued to generate interest among Nigerians.

Guests on good morning Nigeria examined the restructuring initiative, its impact and controversies.

On Tuesday, the Minister unveiled a new structure for the NNPC. Under the new arrangement, there are seven divisions comprising the upstream, downstream, refining group, midstream, and finance ventures and services groups. In addition, there are 20 subsidiary companies.

This development generated reactions from different stakeholders particularly oil workers of the NNPC and its subsidiaries who shot down operations.

While a member of the house committee on petroleum downstream insisted that unbundling the NNPC requires legislative input other guests said the concept needs to be explained and the unions properly carried along to avoid misunderstanding.

As explained by Dr Ibe Kachikwu, the initiative will lead to a stronger NNPC.

Nigerians are however looking forward to benefitting more from the oil endowment that the nation is blessed with as the policy is fully put to test.

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