President Muhammadu Buhari has unbundled the Nigerian National Petroleum Corporation, NNPC, into seven independent operational units.
The news of the NNPC’s split was disclosed by the Minister of State for Petroleum Resources, Ibe Kachikwu on Tuesday in Abuja.
The Minister noted that five of the seven units to which the NNPC has now been split into would focus mainly on business, in line with global best practices of national oil sectors.
The operational Units are; Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.
All existing Group Executives Directors, GEDs, have also been converted to Chief Executive Officers, CEOs, who have been redeployed to various operational units of the NNPC.
The heads for each business component of the NNPC include; Bello Rabiu for Upstream; Henry Ikem-Onih, downstream; Anibor Kragha, Refineries; Saudu Mohammed, Gas & Power, Babatunde Adeniran, Ventures, Finance & Services to be headed by Isiaka Abdulrazaq, while Corporate Services will be Isa Inuwa.