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NNPC Limited to kick off in six months – Sylva

By Uchechi Ojo August 18, 2021420 views

The Minister of State for Petroleum Resources, Timipre Slyva on Tuesday disclosed that Nigerian National Petroleum Corporation (NNPC) will become a commercial company within six months.

This follows the signing of the Petroleum Industry Bill into law by President Muhammadu Buhari on Monday.

Mr Sylva, who was speaking at a press conference in Abuja, said a transitional committee is already in place to incorporate NNPC Limited.

All shares in NNPC Limited are expected to be vested in the government at incorporation and held by the Ministry of Finance.

Mr Sylva noted that although the new petroleum act has deregulated the oil sector, subsidy policies will remain in place till further notice.

He said an implementation framework for actual deregulation will be established to mitigate the impact on ordinary Nigerians.

Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn