The Federal Government yesterday put an end to speculations as regards the new oil and gas policy by approving the unbundling of the Nigeria National Petroleum Corporation (NNPC) into five new organisations within the next six months.

Effectively, there will be no more NNPC and Ministry of Energy, as they will be replaced with National Oil Company and National Petroleum Directorate respectively.

The NNPC is the biggest parastatal in Nigeria, owning 57 percent of joint venture businesses in the upstream operations.

A National Energy Council to reorganise the energy sector has also been set up. The Council, headed by President Umaru Musa Yar’Adua, is expected to unbundle the NNPC into five functional companies by February 2008.

redsun:

It is not about splitting up corporations,it is about changing concepts,from destruction to building,accountability.

NNPC unbundled without law —Senate

By Emmanuel Aziken and Laide Akinboade

Posted to the Web: Wednesday, September 05, 2007



, Senate washes hands off House crisis

ABUJA—The Senate yesterday described the unbundling of the Nigerian National Petroleum Corporation (NNPC) by the federal government as a mere pronouncement without the force of law. (Vanguard)

http://nigeriamasterweb.com/paperfrmes.html

Senate may review scrapping of NNPC - NNPC explains new oil and gas policy
Taiwo Adisa, Abuja - 05.09.2007

The Senate may soon review the circumstances leading to the August 29 decision by the Federal Government to scrap the Nigerian National Petroleum Corporation (NNPC).


Chairman, Senate Committee on Information and Media, Senator Ayogu Eze, who stated this during a press briefing in Abuja on Tuesday, said the upper chamber would look at the law books to see if any provision had been breached in the government’s decision.


According to the Senate spokesman, the NNPC was a product of the decree, which is now an Act of National Assembly. He expressed the belief that the Federal Government would not breach the law.


“As far as I am concerned, it (scrapping) is a pronouncement by the executive. So far, the executive has announced their intention and the intention was announced by a lawyer who briefed the nation and who I am sure will be aware of the provisions of Decree 33 and all the subsections of the laws setting up the NNPC.


www.nigeriamasterweb.com tribune

Senate Rejects Scrapping Of NNPC


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Andrew Oota


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• Faults Yar’Adua on due process

In what looks like the recent reversal of the proposed redenomination of the nation’s currency, the Senate yesterday rejected the unbundling of the Nigerian National Petroleum Corporation by President Umaru Musa Yar’Adua, saying it fell short of due process.

According to the Senate, unless the president presents it to the National Assembly as a bill, "it remains a mere pronouncement."



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NNPC’s scrapping illegal –Senate

COSMAS EKPUNOBI, Abuja


Senate has declared that the recent scrapping of the Nigerian National Petroleum Corporation (NNPC) by the presidency would remain a "mere pronouncement" until the law establishing the agency is repealed by the National Assembly.

The Upper House at a resumed sitting yesterday also announced plan to commence the amendment (process) of the 1999 Constitution, next year saying that dissenting views by some senators like Chief Whip Senator Kanti Bello would not stop the exercise in 2008.

The senate advised President Umaru Musa Yar’Adua to present a Bill to repeal Decree 33 (now Act of National Assembly) in order to give a legal backing to the scrapping of NNPC.

The federal government had last month announced the unbundling of NNPC and promptly replaced the corporation with five new agencies.

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