By Economic & Finance Report:
President Muhammadu Buhari has indicated that he will split up Nigerian state owned oil company; the National Petroleum Corporation (NNPC), into two seperate divisions. One division will consist of being a regulator of sorts and the other division will be for investment purposes.
The NNPC currently oversees Nigeria’s national oil and exploration The NNPC has had questionable practices in the past, with monetary revenues not being accounted for. Governor Lamido Sanusi who is now Emir of Kano, had brought up about money missing in NNPC treasury, and was later dismissed because of bringing up the charges against NNPC.
It is currently speculated that President Buhari oversees the oil portfolio, until the restructuring and management is finished.