Ahead of July 19 formal unveiling of the Nigerian National Petroleum Company Limited (NNPC), President Muhammadu Buhari, who doubles as the Minister of Petroleum Resources, and the Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, have signed the transfer of assets documents from NNPC as a Corporation to the Limited version created by the Petroleum Industry Act (PIA). With this move, the NNPC Limited has completely shed off its former toga and now wears the new look and operations of a limited liability company. It also means that all assets, interests, and liabilities of the Corporation have been transferred to NNPC Limited. The instrument of transfer was signed off recently, Daily Sun learnt. Reacting to the move, the NNPC GMD assured local and foreign investors that the new entity that would be regulated in line with the provisions of the Companies and Allied Matters Act, will position it as a partner of choice to all oil and gas companies globally.
