The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on Thursday revealed that the Federal Government will next week carry out a major overhaul of the Nigerian National Petroleum Corporation, NNPC.
Kachikwu made the disclosure at the Shell Production and Exploration Oloibiri Lecture Series held in Abuja.

He said the Federal Government’s decision was in line with its aim of resolving the governance issues in the oil and gas sector as well as at the NNPC.


He explained that the planned overhaul in the national oil firm had never happened at the corporation in the past 20 years.

He said, “We are starting first with simple governance issues, those that are not contentious, that are very rapid and that deals a lot with the transformation of the national oil company.

“For the national oil company, a lot of work is going on, I am sure some of you have seen the effects but within the next one week, we are going to be announcing some really major overhaul of the system, one that hasn’t been done in over 20 years.

“The effect of that would be to quite frankly unbundle the huge company into four to five main operational zones; the upstream, downstream, midstream, refining and, of course, every other company that is trending to the venture group.”



http://dailypost.ng/2016/03/03/breaking-fg-to-overhaul-nnpc-next-week-kachikwu/?utm_source=dlvr.it_dp1&utm_medium=facebook

Good a thing he said next week and not one of those far-futuristic promises. An overhauling of the NNPC will go a long way to rebrand our oil and gas sector, which of recent has not been in the strategic plans of most of the IOCs.
Mr Kachikwu, Please endeavour to do something about the JV cash call obligations and also do all within your power to make a push for the PIB and sensitive the citizens on what the country stands to gain from the PIB.

These are some of the issues that has stalledthe growth of our oil and gas industry, leading to no new investments but rather divestment by the multinationals.
Please we need them, their money and their technology and do not have to go the way of Iran before something is done.

Nigeria has the potential to do a great many barrels say 3-4 million bopd as against the current 1.7 to 2 million bopd we have been dancing around.

A word is enough for the wise plus a stitch in time saves nine.

Ok

are you aware there is no petrol at the filling stations? Do something before something do you, nigerians are really suffering and very patient set of people

and what will the burukuntu burantashi drunk senile pampers wearing phedoplile drunk dullard gain from overhouing the NNPC to put his fellow cow fulani drunk dullards? Igbo man is being decieve that he is the president of Nigeria while the dullard is the ministry for foreign affairs and peroleum matters of APC

We've heard about so many plan to overhaul and unbundle NNPC in the past and none succeeded. I hope they will get things right this time around. We need a profitable national oil company that can operate profitably and efficiently.

Let's it be done before i know what to say, cos i trust no government

Unboundling and overhauling.

It's about time the whole organisation needs a huge reshaping & restructuring for the 21st century.

why not call a spade a spade? fg want to sack people in NNPC period

top oil producer with top poorest people...PDP and military una well done oh.

Good haul are haulable entities away. Frog eyes alison really messed up the place.

More job loss n hardship loading...

Its always "Will", "to", "shall", "should", "would". When will it become "have", "has", "is". We are getting tired of expectations please let us see manifestation oooo!

EgusiSoup:
and what will the burukuntu burantashi drunk senile pampers wearing phedoplile drunk dullard gain from overhouing the NNPC to put his fellow cow fulani drunk dullards? Igbo man is being decieve that he is the president of Nigeria while the dullard is the ministry for foreign affairs and peroleum matters of APC

Bro take am easy make u no go die o

Nice initiative

not only the oil sector that needs overhauling, the country called NIgeia, needs overhauling.

I pray that this should not just be mere talk

This sounds so interesting, I just hope Lai Muhammed will not come out to deny this good news.

Overhaul ke

Na only to talk dis govt sabi..talk and do like Kcee

mars123:
top oil producer with top poorest people...PDP and military una well done oh.

apc too na. apc members lik saraki, atiku etc were once pdp. a man dat participated in 1966 counter coup, gowon overthrow, shagari overrhrow ia now leading us. to where if i may ask. thunder fire dem all. 2019 gowon or ibb shud better contest o

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EgusiSoup:
and what will the burukuntu burantashi drunk senile pampers wearing phedoplile drunk dullard gain from overhouing the NNPC to put his fellow cow fulani drunk dullards? Igbo man is being decieve that he is the president of Nigeria while the dullard is the ministry for foreign affairs and peroleum matters of APC

[/s]

Election is over, so let go of your frustration. Shun anything negative that doesnt add value to your country and stop reasoning like a child.

Long overdue

EgusiSoup:
and what will the burukuntu burantashi drunk senile pampers wearing phedoplile drunk dullard gain from overhouing the NNPC to put his fellow cow fulani drunk dullards? Igbo man is being decieve that he is the president of Nigeria while the dullard is the ministry for foreign affairs and peroleum matters of APC

See how you spelt overhaul as overhouing, minister as minstry, petroleum as peroleum! You can't even spell simple words, yet you will be asking Buhari for certificate.
Yeye.
WTF is even "phedoplile" . And you are calling Buhari a dullard..
See the way you destroyed English Language.

OH! This news will definitely worsen the queue for petrol! Our marketers no dey use ear hear any talk from govt make dem no react.

They better sack those outdated old men and employ young vibrant youth with technological initiative.

Nice development!

EgusiSoup:
and what will the burukuntu burantashi drunk senile pampers wearing phedoplile drunk dullard gain from overhouing the NNPC to put his fellow cow fulani drunk dullards? Igbo man is being decieve that he is the president of Nigeria while the dullard is the ministry for foreign affairs and peroleum matters of APC

Based on your comment, I can tell how you think. What does the idea behind the overhaul process mean to you? If you have to Google it, keep quiet on topics like this. Focus on Davido, Tompolo, Wiz kid types of discussion.

Feel free to comment on how Timaya/Ini Edo/DBanj/Cossy Orjiakor and others in their category dressed or the whatever they did last month when you wake up.

Matters like this are simply beyond your comprehension and you didn't have to comment at all.

Nice one