Nigerian President Muhammadu Buhari disbanded the board of the state oil company on Friday in an attempt to clean out corruption in the industry.
“There’s no way he could proceed with the same board in place,” Femi Adesina, a spokesman for Buhari, said by phone from the capital, Abuja. “He said he was going to clean up the oil industry.”
Buhari’s All Progressives Congress said during the elections it would probably strip the Nigerian National Petroleum Corp of its regulatory powers and break up the company into more efficient, commercially driven units.
Remember! Last year, former Central Bank Governor Lamido Sanusi was suspended by then President Goodluck Jonathan after he alleged the NNPC hadn’t turned over about $20 billion of oil revenue to the government, which earns two-thirds of its revenue from the commodity.
We hope to hear more information sooner...
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