NNPC Unbundling: Workers shut down Operations nationwide

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Operations of the Nigerian National Petroleum Corporation (NNPC) have been shut nationwide today, March 9, following the NNPC unbundling order by President Muhammadu Buhari.

The oil workers are not been deterred by the Federal Government anti-corruption war against the agency as they are in protest against the NNPC unbundling order by President Muhammadu Buhari that the petroleum corporation be split into seven units.

Report from African Independent Televition (AIT), suggested that members of staff and management of the corporation arrived on Wednesday morning and could not gain access to their various offices but were subsequently asked to return home as oil workers enforce total strike.

According to Premium Times, the NNPC unbundling approval was announced by Dr Ibe Kachikwu, Nigeria’s minister of state for Petroleum Resources, on Tuesday, March 8.

Speaking in Abuja, Nigeria’s federal capital, Kachikwu said that five of the seven operational units will be strictly business-focussed in line with global best practices of national oil companies. The two other units are dedicated to those for Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.

Dr Ibe informed that the new units would be headed by Chief Executive Directors (CEOs) who were also approved by the president. Bello Rabiu for Upstream; Henry Ikem-Onih (downstream); Anibor Kragha (Refineries); Saudu Mohammed (Gas & Power), while Babatunde Adeniran (Ventures) are the five people said to be in charge of the new units.

Others are:  Isiaka Abdulrazaq who will head the group executive director in charge of Finance & Services, Isa Inuwa will take the role of executive head, Corporate Services.

Dr Kachikwu noted also, that Nigeria will stop importing petroleum products in 18 months time. This, he explained, is because there are ongoing discussions with new joint venture partners to build refineries in addition to the four existing refineries in Kaduna, Warri and Port Harcourt.

Dr Kachikwu has made it clear that the NNPC unbundling process is here to stay and there are plans underway for this implementation to be realistic

Recall that the Federal Government splitted the controversial Petroleum Industry Bill into different versions, and hinted splitting the Nigerian National Petroleum Corporation, NNPC, into two companies last year December.

Source: AIT

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