Nigeria’s President Muhammadu Buhari has approved the immediate unbundling of the Nigerian National Petroleum Corporation, NNPC, into seven independent operational units.
The Minister of State for Petroleum Resources, Ibe Kachikwu, who announced the unbundling of the national oil company in Abuja, said five of the seven operational units will be strictly business-focussed in line with global best practices of national oil companies.
The new units include those for Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.
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), while Babatunde Adeniran, Ventures.
The Group Executive Director in charge of Finance & Services would be Isiaka Abdulrazaq, while the Executive Head, Corporate Services will be Isa Inuwa.
All appointments take immediate effect.
Reacting to the announcement of the unbundling of the NNPC, employees of the corporation have embarked on a strike.
The angry workers are said to have shut down all NNPC offices and facilities in a bid to protest the government’s move.
This decision to embark on the action was reached on Tuesday, March 8, 2016, during a meeting of the Group Executive Councils of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
According to the groups, they decided on the strike after “extensively discussing the pronouncement” and they “observed that the GMD/HMSP totally disregarded due process and failed to engage stakeholders.”
“Hence, from midnight today (Tuesday, March 8), all NNPC locations will be shut down completely until further notice. Further directives will be communicated accordingly,” they said.
PENGASSAN spokesperson, Emmanuel Ojugbana said that the union was not carried along in the decision to split the company.