Buhari set to fast-track NNPC reforms

President Muhammadu Buhari said an inter-ministerial committee would soon be established to speed up the re-organisation and reformation of the Nigerian National Petroleum Corporation (NNPC).

The president said this in Abuja at a meeting with the Chief Executive Officer of the International Finance Corporation (IFC), Jin-Yong Cai, at the Presidential Villa, Abuja.

Buhari said that reforming the NNPC had become inevitable in view of the corruption and abuse of its present structure in the recent past.

He also cited Nigeria's current need to maximise income from every source of revenue as a further imperative for reforming the NNPC.

He said government was making efforts to boost national revenue so that it could effectively implement its programme of change and significantly improve the living conditions of Nigerians.

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Cai, who is also the Vice President of the IFC, said with proper reform and re-organisation, NNPC could become Africa's largest company.

'You have brought monumental changes since you got to power. You have brought in strong leadership and Nigeria has the opportunity under you to become highly reputable.

'In NNPC, you can create an entity that is dominant in Africa, and this is the right time to do it, with the momentum you have created,' he said.