(1) The NNPC is to be privatised with the government holding a stake of no more than 25%. Foreign partners will hold about a 50% stake, with the company floated on the Lagos, New York, London, Frankfurt and Tokyo stock exchanges
(2) The NNPC will be recalibrated as a diversified conglomerate with a presence in manufacturing, agriculture, steelmaking, food processing, automobile assembly, power generation, shipbuilding, aircraft manufacturing, rail franchise operations, aviation, etc
(3) With the Dangote Lekki refinery coming into production, the three NNPC refineries in Kaduna, Port Harcourt and Warri will be converted into factories to manufacture goods
(4) The assets of the Ajaokuta and Aladja steel mills will be handed over to this new NNPC Plc with a mandate to supply it with steel for manufacturing
(5) The government will no longer play any role in the petroleum industry. Competition among operators will determine the retail price of petrol
(6) With the scrapping of the NNPC, the federal allocation formula will also end. Oil-producing states will control the wells within their domain and keep 50% of all revenue generated from such ventures
(7) They will then remit 20% to the federation account, 10% to a sovereign wealth fund fir emergencies and 20% into a regional geo-political zone fund
(8) This new NNPC is mandated to have at least one facility in each of our 36 states
(9) As Nigeria’s flagship company and the bellwether of the economy, the NNPC shall be the official sponsor of the Super Eagles
(10) The NNPC should look to expand through acquisitions with a view to purchasing a major oil firm like Total, Agip, Mobil, Texaco, Shell, etc. The expertise such a purchase will bring along is invaluable
