Nigeria: NNPC to be broken up

Minister of state for petroleum resources and group managing director of Nigerian National Petroleum Corporation (NNPC) Ibe Kachikwu has said that NNPC is to be unbundled into 30 companies in the weeks ahead as part of efforts to reform the national oil company. “For the first time, we are unbundling the subset of the NNPC to 30 independent companies with their own managing directors. Titles like group executive directors are going to disappear and in their place you are going to have chief executive officers and they are going to take responsibilities for their titles.