Nigeria may sell shares in state oil giant
The long-awaited legislation creates the Nigerian National Petroleum Company that operates on a commercial basis with the state’s shareholding held by the finance ministry
01 October 2020 - 18:09
Nigeria is considering selling shares in its state oil company, which dominates Africa’s biggest petroleum industry and has been central to corruption scandals in the West African country since crude was discovered there in the 1950s.
Legislation two decades in the making is working its way through parliament that would make the Nigerian National Petroleum Corporation (NNPC) independent of the government and cut its access to state funding...
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