President Muhammadu Buhari, on Tuesday has unveiled the Nigerian National Petroleum Company Limited (NNPC Limited).
In attendance is the Senate President, Ahmad Lawan and other government officials.
The event, which is currently taking place in Abuja, the nation’s capital also has in attendance, the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of NNPC, Mele Kyari among other players in the oil and gas sectors.
The transitioning from NNPC Group to NNPC Limited is in accordance with the Petroleum Industry Act.
According to the Act, NNPC Limited will run a commercial and profit-focused organisation under the Company and Allied Matters Act (CAMA).
Two things will happen few months to the unveiling: Transfer of Asset and Inflow into Federation Account
