Nigerian govt unveils ‘new NNPC’ Ltd, now a commercial oil company.
2 min read
Nigerian govt unveils ‘new NNPC’ Ltd, now a commercial oil company.
By Naomisophyblog
🌿 Ruzu Non-Alcoholic Herbal Bitters
Ruzu Non-Alcoholic Herbal Bitters is a natural health supplement specially formulated to:
- ✅ Promote general wellness
- ✅ Detoxify the body
- ✅ Support the treatment of various ailments
Made from a powerful blend of 100% organic and medicinal herbs, Ruzu is completely alcohol-free, making it ideal for:
- 👪 All age groups
- 🌱 Health-conscious individuals
- 🌿 Anyone seeking non-alcoholic herbal remedies
Whether you're looking to boost your vitality, cleanse your system, or support healing the natural way, Ruzu Bitters offers a trusted herbal solution.
The NNPC is now expected to be managed like a private sector enterprise unlike the former corruption-ridden government organisation.
President Muhammadu Buhari on Tuesday unveiled the new Nigerian National Petroleum Company Limited, a landmark event that officially changes the oil firm from a wholly state-run entity to a commercial oil company, limited by shares.
The NNPC Limited is expected to be managed as a private energy enterprise unlike the former corruption-ridden government organisation.
The unveiling took place at the presidential banquet hall in Abuja.
“We are transforming our petroleum industry to strengthen the growth today July, 19 2022,” Mr Buhari said at the event.
“NNPC Limited now will operate as a commercial oil company with over 200 million shareholders with integrity and excellence.”
The official unveiling came weeks after the corporation transitioned into a company whose operations will be regulated by the Companies and Allied Matters Act (CAMA). The legal transition, based on the new Petroleum Industry Act, took effect July 1.
The NNPC completed its incorporation in September last year weeks after the the PIA was signed into law by President Buhari.
Read Also:Anxiety In Imo Community As Ebubeagu Operatives Allegedly Kill 7 Youths, Others Missing(VIDEO).
The NNPC Limited was then floated with an initial capital of N200 billion making history as the company with the highest share capital in the country.
The new entity is expected to become a commercially oriented and profit-driven national petroleum company independent of government, although government bodies remain its shareholders. It will be audited annually.
About The Author
