Under the recently signed Petroleum Industry Act , the Nigerian National Petroleum Corporation , was expected to transform to a limited liability company, a fact that has now been accomplished.
He said his expectation was for a speedy transition through taking all steps required to transfer assets, human and material, “and without wasting time to capitalize the company as required by the Petroleum Industry Act.” In his remarks, Group Managing Director of NNPC, Mele Kolo Kyari, said the incorporation was “history made again, a massive transformation from what we know, to where we are going,” under the leadership of President Muhammadu Buhari.
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