The President Muhammadu Buhari-led Federal Government has re-stated its commitment to set up a special inter-ministerial committee to ensure prompt reform of the Nigerian National Petroleum Corporation, NNPC and rid it of the alleged monumental corruption and abuse in its present structure.
Mr. President disclosed this at a meeting with the Chief Executive Officer of the International Finance Corporation, IFC, Jin-Yong Cai, at the Presidential Villa and also said that his administration was committed to generating income from every source of revenue as a necessity for reforms at the NNPC, adding that the national revenue needed a boost to effectively implement its programme of change and significantly improve the living conditions of Nigerians. Cai, in his response, said proper reformation and re-organisation of the NNPC could make it the largest company in Africa. “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,”
Many have argued that failure of the national assembly to pass the age-long Petroleum Industry Bill, PIB, that is believed, would bring some sanity to the NNPC and its subsidiaries is the bane of the problem with the corporation.