The Nigerian Government may soon be breaking the Nigerian National Petroleum Corporation into two companies – the Nigeria Petroleum Assets Management Company, NPAM and the National Oil Company, NOC .
FG is also seeking to break up the PIB and is replacing it first with a law to overhaul the petroleum sector with the aim of closing loopholes that bred corruption.
The NOC will be an “integrated oil and gas company operating as a fully commercial entity and will run like a private company”. NPAM, on the other hand, is expected to manage assets where the government is not obligated to provide any upfront funding.
