Nigerian President, Muhammadu Buhari has approved the immediate unbundling of the Nigerian National Petroleum Corporation, NNPC, into seven independent operational units. Minister of State for Petroleum Resources, Ibe Kachikwu, made this known yesterday March 8. According to Kachiukwu, the new units are Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.
He said each of the units would be headed by chief executive officers, namely Bello Rabiu for Upstream; Henry Ikem-Onih (downstream); Anibor Kragha (Refineries); Saudu Mohammed (Gas & Power), Babatunde Adeniran (Ventures), Isiaka Abdulrasaq Finance & Accounting and Isa Inuwa Executive Head, Corporate Planning and Services.
All appointments take immediate effect.
is this legal?