FG to establish inter-ministerial committee to fast track NNPC’s reforms

President Muhammadu Buhari Tuesday said his administration would soon establish an inter-ministerial committee to speed up the reorganisation and reformation of the Nigerian National Petroleum Corporation (NNPC).

Speaking at a meeting with the CEO of the International Finance Corporation (IFC), Jin-Yong Cai, at the Presidential Villa, President Buhari said the reformation of the NNPC had become inevitable in view of the corruption and abuse of its present structure in the recent past.

According to a statement by Femi Adesina, presidential spokesman, the President also cited Nigeria’s current need to maximise income from every source of revenue as a further imperative for reforming the NNPC.

“He said that his administration was doing everything possible to boost national revenue so that it can effectively implement its programme of change and significantly improve the living conditions of Nigerians,” the statement read.

Jin-Yong Cai, who is also the vice president of the IFC, told President Buhari that with proper reformation and re-organisation, NNPC could become Africa’s largest company.

“You have brought monumental changes since you got to power. You have brought in strong leadership and Nigeria has the opportunity under you to become highly reputable.

“In NNPC, you can create an entity that is dominant in Africa, and this is the right time to do it, with the momentum you have created,” he told Buhari.