Kyari to take up new position as NNPC becomes holding company

Mele Kyari, the group managing director of the Nigerian National Petroleum Company Limited (NNPC) is set to change his status as the Group Chief Executive Officer (GCEO).

This is in consonance with NNPC transitioning from a government-owned company to a private company in line with the Petroleum Industry Act (PIA) 2021, signed into law by President Muhammadu Buhari on August 16, 2021.

Read also:NNPC secures court order to stop ExxonMobil from leaving Nigeria

Monday, 18 July has been slated for the official unveiling by President Buhari for the new look NNPC limited and officially transits the 45-year government company to a private entity that would be regulated in line with the provisions of the Companies and Allied Matters Act (CAMA).

NNPC Limited will be floated with an initial capital of N200 billion, making history as the company with the highest share capital in the country.

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