*Senate to get first PIB
this week
*To replace DPR, PPPRA
with NPRC
The Federal Government
has broken up the controversial Petroleum Industry Bill into different versions
and is proposing splitting the Nigerian National Petroleum Corporation, NNPC,
into two companies – the Nigeria Petroleum Assets Management Company (NPAM) and
a National Oil Company (NOC) that would be run on commercial lines and partly privatized.
According
to Reuters, yesterday, the Federal Government is breaking up the PIB and is
replacing it first with a law to overhaul the petroleum sector with the aim of
closing loopholes that bred corruption.
