NNPC, NASS pledge speedy reforms in petroleum sector


Nigerian National Petroleum Corporation, NNPC, has pledged to collaborate with the National Assembly in order to ensure efficiency and transformation of the downstream sector of the Petroleum Industry.
Minister of State for Petroleum Resources and Group Managing Director of the Corporation, Dr. Ibe Kachikwu made this known when he received the House of Representatives Committee on Petroleum Downstream at the NNPC Towers in Abuja during their oversight visit to the Corporation.
Dr. Kachikwu noted that the Petroleum Industry is currently undergoing fundamental changes in the face of dwindling global crude oil prices and sued for the support of members of the National Assembly to allow the NNPC solicit for funds from private local and international investors to execute its capital projects.
The Minister said the NNPC has complied with the Federal Government directive on the Treasury Single Account (TSA) which according to him promotes probity and accountability in the day-to-day operations of the Corporation.
He informed that some of the subsidiaries of the NNPC are being unbundled in order to guarantee energy efficiency and security stressing that the Pipelines and Products Marketing Company (PPMC) is being restructured into a pipelines company, products marketing company and a storage company.

 

 

 Check the Nigerian Pilot for the full story.

 

 

 

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