FEDERAL GOVT BREAKS NNPC INTO FOUR UNITS

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The Nigerian National Petroleum Corporation (NNPC) has been unbundled into four units in a major restructuring of the 39-year-old oil giant. Minister of State for Petroleum Resources Dr. Ibe Kachikwu yesterday announced the new structure at a briefing in Abuja.

The Minister, who is also the Group Managing Director of the organisation, said President Muhammadu Buhari approved the restructuring. He said: “The new NNPC comprises a lean headquarters and four autonomous business units.”

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