The Federal Government on Tuesday finally put a date to its plan to privatize the Nigerian National Petroleum Corporation (NNPC). Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who spoke on Tuesday at the sidelines of an energy meeting in Abu Dhabi said Nigeria plans to make its first initial public offering of assets owned by NNPC in 2018.

There have been several efforts in the past to privatize the NNPC, which met with stiff opposition from Nigerians including labour unions.

“It’s inevitable,” Kachikwu, who is also Group Managing Director of the corporation said “Part of the cleaning up process that we’re doing is to prepare for that.” Kachikwu said some of the assets that will be up for privatization are in the refining and distribution business and “select” exploration and production assets to the public, according to a Bloomberg report.

NNPC manages Nigeria’s stakes in joint ventures with international oil companies that pump the country’s crude. It also operates refineries and a distribution network of depots and pipelines across the country of about 180 million people.

With reorganization, the NNPC is expected to evolve into four efficient business units from more than a dozen that are mostly making losses, and return to profitability, according to Kachikwu.

A long-delayed bill to reform Nigeria’s oil and gas industry will probably be passed “quickly” by lawmakers after it was split to separate a “very contentious” fiscal aspect from non-fiscal parts, he said. Share this:

Read more at: https://economicconfidential.com/2016/01/fg-to-privatize-nnpc-by-2018-says-kachikwu/amp/

cc: Lalasticlala, OAMJ4, Mynd44,
This thread is still in furtherance of the below two threads:
https://www.nairaland.com/5036501/economic-dangers-selling-nnpc#75941949

https://www.nairaland.com/5036614/nigeria-must-kill-nnpc-el-rufai#75943861

https://www.premiumtimesng.com/news/headlines/186622-nigeria-must-kill-nnpc-el-rufai.html
Let's educate Nigerians on the hypocrisy of the govt Nigeria have today.

Like for Atiku Share for Buhari

This government's hypocrisy stinks to the high places.

APC NO MORE

SAI ATIKU.

The Federal Government on Tuesday finally put a date to its plan to privatize the Nigerian National Petroleum Corporation (NNPC). Minister of State for Petroleum Resources, Dr. Ibe Kachikwu who spoke on Tuesday at the sidelines of an energy meeting in Abu Dhabi said Nigeria plans to make its first initial public offering of assets owned by NNPC in 2018.

Atiku/Obi really know their onions but the APC is really filled with stupid, amnestic, brainless, clueless, incompetent hypocrites.

Nnukwu thunder gbagbue any mummified zombie that ever talk about this issue or corruption again. Bunch of fucktards and retards.

I'd forgotten about this news.
lol

paiz:
Like for Atiku
Share for Buhari

Let me qoute you before you edit this. Atiku all the way

Watch cursed zombies do a Volte face shamelessly and say Selling NNPC is the best thing to do

Atiku keep hitting d enemy's camp below the belt. Thank God d internet unlike APC never forgets nor lives in denial. APC just like the President has serious amnesia problems forgetting easily at d shortest time

Apc and their gullible zombies are fantastic hypocrites.
It is obvious they have nothing to campaign for.

And yet they are demonizing Atiku for wanting to privatize it. The hypocrisy of APC is unprecedented!

And yet zombies lambasted Atiku when he said same thing.

Mumu APC! They are finally Atikulating and keying into the Dubai strategy but it's too late in the day. Daura awaits their Lifeless son in May.

Racoon ... you badd

magoo10:
Apc

Association of Present and past criminals!

hucienda:
Racoon ... you badd

Racoon is the Great Reno of NL. Killing Zombies with facts! I miss Anonimi

hucienda:
Racoon ... you badd

Fatal blow to BMCs argument.

Gandollaar:
Association of Present and past criminals!

your head dey there

Lalasticlala come o
BMCs have been caught pants down debating against the policies they supported last year.

Sarrki, mannarottenbbq, tetehjewels, Corinthians, Manirbk, assemble here and show some respect to the incoming president Turaki Adamawa Alhaji Atiku Abubakar.

hucienda:
Racoon ... you badd

I vehemently hate the hypocrisy of this senseless APC government and their allied zombies.I cant wait for this useless government to phased out of our national life in 24hours time. Thumbs up man.

Meanwhile, we have president in waiting.

FarahAideed:
Watch cursed zombies do a Volte face shamelessly and say Selling NNPC is the best thing to do

No, they will come and tell you that if NNPC should be sold, it must not be by Atiku. They would rather Tinubu Amaechi garuba Shehu, kingibe, Ganduje, burantai, maina, buhari, Aisha, hell rufai, dambazza Akpabio and Lair Mohammed be the ones to sell it. Useless idiots.

If Iwas a bae, I'd marry this OP for turning the counsel of APC to foolishness!

Gandollaar:
I was a bae, I'd marry this OP for turning the counsel of APC to foolishness!

Ka Chineke goziri gi ofoma ofoma.Udo diri gi nwoke man.

FarahAideed:
Watch cursed zombies do a Volte face shamelessly and say Selling NNPC is the best thing to do

Very silly and nauseating set of humanity obsessed with skewed & warped sai baba zombie mentality.

You will see zombies do a 360 degrees.

Na old news be this nah!

PDP pls get sense...

Fake news

Racoon:
Ka Chineke goziri gi ofoma ofoma.Udo diri go nwoke man.

Dikwara gi my brother man.

We would still need government sector to checkmate these thieving private sector. And you need to sell to a private sector who knows his onions, not the thieving cronies that know nothing of what they are buying like the shambolic privatisation by PDP and Atiku did.

SAY NO TO NEXT LEVEL OF DECEIT, LIES, PROPAGANDA, INSINCERITY, ECONOMIC LIFELESNESS, INCOMPETENCE, DICTATORSHIP, INSECURITY, HARDSHIP, POVERTY, HUNGER, HEDONISM AND NEPOTISM.

PLEASE LETS JOIN HANDS AND VOTE OUT THIS BLAME-GAME GOVERNMENT FOR THE BETTERMENT OF OUR DEAR COUNTRY NIGERIA.