NNPC May Go Public Soon

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VENTURES AFRICA – ’s most closely guarded, and ironically scrutinised company, NNPC, may soon go for public ownership. This be made possible if House of Representative’s plan to list 30 percent of company on Stock receives president’s blessings.

In a report by newspaper, Union, the Chief Whip of the House, Ishaka Mohammed Bawa who speaking further on the recommendations proffered by the , also emphasised that Section 174 of the Petroleum Industry Bill (PIB), 49 percent of Gas Company shares be offered to the public.

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The PIB is expected to be passed before May 31, following the completion and approval of the . Although there had been speculations that the postponement of the elections would delay the passage of the PIB, the  eagerness to conclude on a key portion of the bill suggests that the deadline be met.

The house also advised that the government start supervising oil output by measuring outflow stations as opposed to waiting till just before exportation. This, it believes, ensure the proper breakdown of production figures and help curtail .