President Buhari reveals in an interview with Journist on his four days visit to U.S that he will break up Nigeria National Petroleum Corporation NNPC,into two entities under his administration.NNPC is already been discover as the engine room for stealing and corruption killing Nigeria Economy.
He indicated that one of the company will be a Regulator and the other an investment vehicle for the country.he states clearly that he will end political control and influence of oil drilling rights,and also, ministers will no longer have power to award contracts, under his watch, a new formula will be adopted.
“I am reforming the oil and gas sector, breaking up the NNPC into two parts – the first willbecome an independent regulator for the sector, while the second will act as an investment vehicle for the country.”
“I will also end political control of the awarding of drilling and exploration rights by introducing a system of independent, transparent auctioning for licences,” the President said.
“I have already acted to remove political control over awarding of contracts away from ministers who use them to get political favours and kickbacks.“I will introduce a new system of plea bargain, that will allow those who have stolen assets and funds to return them – but if they do nottake that opportunity we will pursue them through the courts.”
In fighting corruption he intend merging EFCC and ICPC to form a stronger and effective anti-graft Agency
“Corruption is one of the top three issues facing Nigeria, along with insecurity and unemployment. We must act to kill corruption or corruption will kill Nigeria. I am determined to lead that fight.“My government is already taking several steps to cut out the cancer of corruption that has been eating away at the state for so long.“We are reorganising the existing plethora of anti-corruption bodies into single powerful agency that will have the focus, power and budget to clamp down on corruption at the federal and statelevels.”
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