• Home
  • News
    • African News
    • Nigerian
    • World
    • News UK
    • Politics
  • Sports
  • Business
  • Entertainment
  • Health
Nigerian Watch Newspaper
Nigerian Watch Newspaper
 
 
 
 
  • Home
  • News
    • African News
    • Nigerian
    • World
    • News UK
    • Politics
  • Sports
  • Business
  • Entertainment
  • Health
Home
Business

10 things I would like to see in the Petroleum Industry Bill President Buhari just submitted to the National Assembly

September 29th, 2020 African News, Business, News, Nigerian, Politics, World comments

10 things I would like to see in the Petroleum Industry Bill President Buhari just submitted to the National Assembly

(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

  • Tags
  • Agip
  • Ajaokuta
  • Aladga
  • Ayo Akinfe
  • Dangote
  • Frankfurt and Tokyo stock exchanges
  • Innoson
  • Kaduna
  • Lagos
  • Lekki
  • London
  • Mobil
  • New York
  • NNPC
  • Petroleum Industry Bill
  • Port Harcourt
  • refineries
  • Shell
  • Texaco
  • Total
  • Warri
Facebook Twitter Google+ LinkedIn WhatsApp
Next article Efe Ambrose appointed as reserve team assistant manager as Scottish side Livingston
Previous article PDP challenges Governor Akeredolu to account for $10m which it claims he got as Covid-19 donations

Related Posts

Nigeria exports its first-ever cargo of  newly explored grade of crude oil known as Anyala African News

Nigeria exports its first-ever cargo of newly explored grade of crude oil known as Anyala

Inec announces that Anambra State gubernatorial elections will take place on Nov 6 African News

Inec announces that Anambra State gubernatorial elections will take place on Nov 6

PDP woos Rochas Okorocha after he hints that he is considering leaving the APC ahead of 2023 News

PDP woos Rochas Okorocha after he hints that he is considering leaving the APC ahead of 2023

Facebook Comments

 

Follow Us on Facebook


Follow us on Twitter


Follow nigerianwatch on TwitterTweet

  • About us
  • Legal agreement
  • Privacy policy
  • Contact us
  • Back to top
© 2012 - Nigerian Watch. All rights reserved.
Website by Mouldme.com