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With 100% FG stake, new PIB does not promise a profitable NNPC

In the revised Petroleum Industry Bill (PIB), the Federal Government will retain 100 shares of a newly created Nigerian National Petroleum Corporation (NNPC) Ltd, an ownership structure that failed to deliver value in the past and could make it inefficient tomorrow. The PIB under review by lawmakers proposes turning the NNPC into a limited liability…

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