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Buhari Divides NNPC Into 4 Autonomous Companies - Business - Nairaland

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Buhari Divides NNPC Into 4 Autonomous Companies by dallyemmy: 12:26pm On Dec 18, 2015
Nigeria's Minister of State for Petroleum, Ibe Kachikwu, has stated that president Muhammadu Buhari has approved the unbundling of the NNPC into four autonomous companies.

“Right now I have just received the president’s approval to embark on the final phase of the restructuring we are doing," he said at a town hall meeting in Abuja.

“That restructuring effort will unbundle this company into four key components: the upstream company, the downstream company, midstream company which is the gas and power company and then of course, the refining group holding company.”

"All of them would operate independently with quasi-managing directors and remit profits and taxes to the coffers of the government," he said.

“A lot of the non-performing but asset-based subsidiaries that we have, we will put them into a venture company where we will begin to help manage them to profitability and hopefully either spin them off ultimately or make them so profitable that we may decide to keep them.

He further explained that the effect of the restructuring would enable NNPC to focus on individuals who will lead as quasi-managing directors to run the entities with the aim of delivering profits for the organisation.

“This is the sort of financial model that we are going to be dealing with over the next few months and trying to set up a performance index that is comparable with the very best in the world,” he explained.


ThisDay

http://www.nigerianbulletin.com/threads/buhari-divides-nnpc-into-4-autonomous-companies.155491/
Re: Buhari Divides NNPC Into 4 Autonomous Companies by OZAOEKPE(f): 12:27pm On Dec 18, 2015
SOON BABA WOULD MERGE THEM AGAIN BABA IS A SICK AND CONFUSED MAN

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Re: Buhari Divides NNPC Into 4 Autonomous Companies by Dafe20(m): 12:28pm On Dec 18, 2015
Goood!
Re: Buhari Divides NNPC Into 4 Autonomous Companies by MrBONE2(m): 12:29pm On Dec 18, 2015
Shaka am expecting it to be divided into 2 not 4
Re: Buhari Divides NNPC Into 4 Autonomous Companies by Nobody: 12:40pm On Dec 18, 2015
Whatever tongue
Re: Buhari Divides NNPC Into 4 Autonomous Companies by jcflex(m): 12:55pm On Dec 18, 2015
This is good


NNPC cant be the referee and player at the same time on the field.

you cnt be a regulator in same market you operate.

1 Like

Re: Buhari Divides NNPC Into 4 Autonomous Companies by ajigin: 5:34pm On Dec 18, 2015
I LOVE THE DECISIONI LOVE THE DECISIONI LOVE THE DECISION
Re: Buhari Divides NNPC Into 4 Autonomous Companies by SQURA(f): 5:47pm On Dec 18, 2015
This is like destroying the behemoth of corruption. good plans
Re: Buhari Divides NNPC Into 4 Autonomous Companies by DEGREE2466(m): 6:05pm On Dec 18, 2015
dallyemmy:
Nigeria's Minister of State for Petroleum, Ibe Kachikwu, has stated that president Muhammadu Buhari has approved the unbundling of the NNPC into four autonomous companies.

“Right now I have just received the president’s approval to embark on the final phase of the restructuring we are doing," he said at a town hall meeting in Abuja.

“That restructuring effort will unbundle this company into four key components: the upstream company, the downstream company, midstream company which is the gas and power company and then of course, the refining group holding company.”

"All of them would operate independently with quasi-managing directors and remit profits and taxes to the coffers of the government," he said.

“A lot of the non-performing but asset-based subsidiaries that we have, we will put them into a venture company where we will begin to help manage them to profitability and hopefully either spin them off ultimately or make them so profitable that we may decide to keep them.

He further explained that the effect of the restructuring would enable NNPC to focus on individuals who will lead as quasi-managing directors to run the entities with the aim of delivering profits for the organisation.

“This is the sort of financial model that we are going to be dealing with over the next few months and trying to set up a performance index that is comparable with the very best in the world,” he explained.


ThisDay

http://www.nigerianbulletin.com/threads/buhari-divides-nnpc-into-4-autonomous-companies.155491/



In Phyno's voice "Okwa so Anya Anya ka m na ele"


Buhari, the renowned DULLARD

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