Minister for State, Petroleum and Group Managing Director, NNPC, Dr. Ibe
Kachikwu has said that the NNPC has not been unbundled as reported in the
media.
Kachikwu told State House Journalists after the meeting of Federal
Executive Council, FEC, that NNPC was only reorganized.
This is what he told reporters:
“We have not unbundled NNPC. We had a press conference yesterday where I
explained this. What we have simply done is reorganisation. We have five
business entities focused on business: Upstream, Downstream, Refineries,
Gas and Power that are there before.
“There is also Ventures that capture all our little companies that were
not having proper stewardship. They are run by individuals who report to
the GMD. The NNPC is still a whole. There is nothing new that has
happened.
“I have tried to explain this and I am sure the NNPC workers are members
of the family, they will understand. We are going to have a meeting, and
they will be made to understand. Perhaps the engagement has not been good
enough.
“NNPC has not been unbundled in the sense of breaking up NNPC into
distinct institutions. I am concerned. I don’t want the industry shut
down. I am sure we are going to resolve the issues very soon”.