Nigeria transforms state-run oil corporation into independent firm

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Nigeria transforms state-run oil corporation into independent firm

STORY: Nigeria transforms state-run oil corporation into independent firm DATELINE: July 21, 2022 LENGTH: 00:01:44 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of the ceremony 2. various of NNPC Towers 3. SOUNDBITE (English): MUHAMMADU BUHARI, Nigerian President STORYLINE: Nigeria has transformed the state-run Nigerian National Petroleum Corporation (NNPC) into an independent and limited liability firm, about 45 years after the creation of the national oil corporation. The move is part of the ongoing reform of the country's oil industry, heralded by the Petroleum Industry Act (PIA) signed into law last year by President Muhammadu Buhari. On Tuesday, Buhari unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), which replaced the now defunct NNPC, at a ceremony in Abuja, the Nigerian capital. SOUNDBITE (English): MUHAMMADU BUHARI, Nigerian President "This is a landmark event for the Nigerian oil industry. Our country places a high premium on creating the right atmosp

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