The Nigerian National Petroleum Company Limited (NNPCL) on Friday took over the assets of the nation’s oil company (NNPC) after 46 years of its operations as a corporation.
The final ceremony that officially marks the birth of NNPCL took place at the corporation’s towers in Abuja on Friday.
The company took over after attaining legal requirements within the stipulated 18 months in line with section 54 (3) of the Petroleum Industry Act (PIA) 2021 and the corporation transitioned into a company whose operations will be regulated by the Companies and Allied Matters Act (CAMA).
