Nigeria’s Buhari Orders Incorporation of State-Owned Oil Firm

(Bloomberg) -- Nigeria’s President Muhammadu Buhari has ordered that the process to incorporate the state oil firm as a private company should begin immediately.

This is in line with the recent oil reform bill which he signed into law mandating the incorporation of the Nigerian National Petroleum Company Limited within six months, according to an emailed statement on Sunday.

Nigeria’s Buhari Signs Law to Overhaul Oil Industry

President Buhari also approved the appointment of the board and management of the company, including Mele Kyari as the chief executive officer.  

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