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- The Group Managing Director of NNPC, Emmanuel Kachikwu has said that the corporation will split its downstream arm into three parts
- According to him, “PPMC will be split into a pipelines company that will focus primarily on the maintenance of over five thousand kilometers (of) pipelines, a storage company that will maintain over 23 depots and a products marketing company,”
- In his statement, Kachikwu said Nigeria’s hitherto neglected refineries would not be sold, as widely speculated, but oil firms in existing joint ventures with the NNPC would be “invited to support the running of the refineries in order to ensure efficiency”.
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Cornerstone Insurance shareholders approve business split, name change to Cornerstone Holdings Plc
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