What President Buhari really plans to do with NNPC – Kachikwu

– Kachikwu says that the government haven’t unbundled NNPC

– The government promises to resolve issues very soon

Minister of State for Petroleum Resources Ibe Kachikwu has revealed President Muhammaddu Buhari’s plans for the Nigeria National Petroleum Cooperation (NNPC).

He stated that the federal government has not unbundled the corporation.

The minister, speaking with state house reporters on March 9, said the government only restructured the corporation for the sake of efficiency.

READ ALSO: Why oil workers rejected President Buhari’s new order

“We have not unbundled NNPC. We had a press conference yesterday where I explained this. What we have simply done is reorganisation,” Kachikwu said.

“We have five business entities focused on business: upstream, downstream, refineries, gas and power that are there before. There is also ventures that capture all our little companies that were not having proper stewardship.

“They are run by individuals who report to the GMD. The NNPC is still a whole. There is nothing new that has happened.

“I have tried to explain this and I am sure the NNPC workers are members of the family; they will understand. We are going to have a meeting, and they will be made to understand. Perhaps the engagement has not been good enough.

“NNPC has not been unbundled in the sense of breaking up NNPC into distinct institutions. I am concerned. I don’t want the industry shut down. I am sure we are going to resolve the issues very soon.”

Minister Kachikwu revealed that the incumbent government would soon divided the oil firm into 30 profitable companies.

The Nigerian senate reacting to the development expressed displeasure. wondering why the authorities did not consult the National Assembly “before repealing the enabling law that set up the organisation”.

READ ALSO: Buhari approves immediate split of NNPC into seven units

Some oil workers also dissatisfied with the unbundling of NNPC.

The members of the Nigeria Union of Petroleum and Natural Gas Workers shut down the operations of the NNPC nationwide protesting the decision of the president.

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