The Senate has begun probing the decision of President Muhammadu Buhari to unbundle Nigerian National Petroleum Corporation (NNPC) into 30 companies, whose first phase of seven companies was completed on Tuesday.
In a point of Order by Senate Chief Whip, Senator Olusola Adeyeye on the floor of the Senate Wednesday, he drew the attention of other Senators to the unbundling of the nation’s corporation in charge of the oil and gas sector.
On Tuesday, Dr. Ibe Kachikwu, Minister of State for Petroleum and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) unbundled the organisation into five Businesses and two Services components and appointed seven Chief Executive Officers (CEOs) to head the various business components.
But national lawmakers have kicked against the unbundling, with Speaker Yakubu Dogara describing it as illegal desecration of the Constitution which prescribes amendment of NNPC Act 2004 prior to unbundling the corporation.
Now, Senator Adeyeye will present a formal motion Thursday where there would be extensive debate at the plenary, describing it as illegal because the Federal Government did not consult the National Assembly to repeal the enabling law that set up the corporation before splitting it into different components.
NNPC workers have shut down the corporation’s operations nationwide following the exercise and the development has triggered fuel queues across the country.
Details later…
-Vanguard