By Omololu Ogunmade
The Joint Senate Committee on Upstream, Downstream Petroleum and Gas is currently holding a closed-door meeting with the Minister of State for Petroleum, Dr. Ibe Kachikwu, over the current restructuring of the Nigeria National Petroleum Corporation (NNPC).
Before dissolving into the closed-door meeting, Kachikwu had denied reports that he embarked on unbundling of the corporation which the Senate yesterday described as a violation of the NNPC Act.
Kachikwu said the move was only meant to make hitherto dormant subsidiaries of the company productive and independent in the discharge of their responsibilities.
But some members of the committee queried his decision to unilaterally take the decision without the involvement of a properly constituted board of the NNPC. They accused him of more or less running the corporation like a sole administrator, a situation they said might be counter-productive.
Details later… ThisDay
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