CAC Hands Over NNPC Limited Certificate of Incorporation to Buhari

NNPC Limited Certificate of Incorporation

CAC has handed over the NNPC Limited Certificate of Incorporation to president Buhari.

Angeladaviesblog reports that President Muhammadu Buhari, Friday, officially received the certificate of incorporation of the Nigeria National Petroleum Company Limited (NNPC Limited) from the Corporate Affairs Commission (CAC).

This online news platform recalls that the recently signed PetroleumCAC Hands Over NNPC Limited Certificate of Incorporation to Buhari Industry Act (PIA), mandated that the Nigerian National Petroleum Corporation (NNPC), should transform into a limited liability company.

Speaking in Abuja while receiving the certificate, Buhari noted that with the certification of the company the country expected nothing less from the Board of Directors, the Chief Executive Officer, and the Chief Finance Officer, “than the realisation of a global national oil company that this nation desires and deserves.”

The president described the incorporation as “a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to its shareholders, the Nigerian people.”

According to Buhari, his expectation was for a speedy transition through taking all steps required to transfer assets, human and material, “and without wasting time to capitalize the company as required by the Petroleum Industry Act.”

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