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Nigeria to reform state run oil firm

Xinhua, January 7, 2016 Adjust font size:

The Nigerian government has said an inter-ministerial committee would soon be established to speed up the re-organisation and reformation of the country's state run oil firm.

President Muhammadu Buhari said this in Abuja on Tuesday when Chief Executive Officer of the International Finance Corporation, Jin-Yong Cai, visited the Presidential Villa.

Buhari said that reforming the Nigerian National Petroleum Corporation (NNPC) had become inevitable in view of the corruption and abuse of its present structure in the recent past.

The Nigerian leader also cited Nigeria's current need to maximize income from every source of revenue as a further imperative for reforming the NNPC.

He said government was making efforts to boost national revenue so that it could effectively implement its program of change and significantly improve the living conditions of Nigerians. Endit