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Buhari Move To Overhaul NNPC Causes Tension

Buhari Move To Overhaul NNPC Causes Tension

There is a likelihood that a major restructuring will take place at the Nigerian National Petroleum Corporation (NNPC). 

Buhari Move To Overhaul NNPC Causes Tension

Buhari has indicated his interest to manage the petroleum portfolio of the federal government

This is because a proposal for the restructuring of the corporation into eight organisations has been submitted to President Muhammadu Buhari by some powerful and influential people for him to implement as soon as possible.

READ ALSO: NNPC Missing Money: The Role Of A Top Bank

According to National Mirror, the restructuring, if  eventually implemented, will benefit many northerners, a development that is already causing tension within and outside the NNPC as some experts are predicting doom for the petroleum industry if the policies are implemented.

An oil expert, Mr. Oscar Oti Abuam, said no responsible government will implement such a proposal because of the complex nature of the Nigerian state, particularly when considered against the backdrop that oil is mainly from the South-South region of the country.

He said: “Nigerians voted for change irrespective of religion and or ethnic background. NNPC remains the cash cow for sustaining the economy and any attempt to implement such a slanted policy will affect the economy terribly.”

In the proposed new structure, northerners plan to occupy all Group Executive Director positions and other strategic positions, including Group Managing Director of the Pipelines and Products Marketing Company  as well as the Managing Director and Group Managing Director of the Crude Oil Marketers Division.

READ ALSO: Alison-Madueke Sues APC, Premium Times, 9 Others 

Just yesterday, the House of Representatives decided to probe supposed crude oil swaps contracts, between the NNPC and some companies.

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