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Friday 11 March 2016

Nigeria's state oil firm NNPC makes more management changes

Nigeria's state oil company, the main revenue earner in Africa's biggest crude producer, has appointed more senior managers in a continued overhaul of the firm, it said on Friday.
The announcement comes a day after unions ended a strike to protest against government plans to restructure the Nigerian National Petroleum Corporation (NNPC) which will be split into upstream, downstream, gas power marketing, refinery groups, and ventures divisions. nL5N16I1RB
President Muhammadu Buhari, who took office last May, has prioritised overhauling Nigeria's oil sector, which accounts for around 90 percent of foreign earnings, in an effort to improve efficiency while cracking down on corruption.
NNPC said it had appointed seven group executive directors who will report to its head Emmanuel Ibe Kachikwu, who was appointed by Buhari last year along with other senior managers to lead corporate reforms.
More than 40 other managers have been appointed, seconded or redeployed into key positions, the statement said.
The group executive directors will be responsible for upstream, downstream, refineries, gas and power, ventures, finance and accounts, as well as corporate services.
New heads of NNPC's strategic business units and corporate service units were also announced, along with details of managers who had been seconded to other departments.
NNPC said the appointments take effect immediately and the new unit heads are expected to resume fully by April 1.
*First published by Reuters

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