Petroleum Industry Act: Govt can sell NNPC shares to individuals, says Kyari

Kyari stated that though this would not happen immediately, the major shareholders of the new NNPC were allowed in the PIA to sell shares of the national oil firm to private individuals.

On the transformation of NNPC from a statutory corporation to a limited liability company, Kyari said the new oil firm would have government shareholders to be represented by the ministers of finance and petroleum resources. The NNPC boss added, “The intension at the very onset is not to go to that step but there is provision in the law that allows us ultimately to sell shares of this company.”

Thieves.

Same thing Atiku wanted to do

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Petroleum Industry Act loopholes: 36 states set up six-member panel, plan amendmentsThe 36 states of the federation have set up a six-man committee on the Petroleum Industry Act with a mandate to study and draw up amendments to the law.
Source: MobilePunch - 🏆 8. / 63 Read more »

Petroleum Industry Bill: Lawan responds to $10m allegation against Senators, RepsSenate President, Ahmad Lawan says the allegation that $10million was offered to the National Assembly to influence the Petroleum Industry Bill (PIB) is
Source: DailyPostNGR - 🏆 11. / 59 Read more »