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Nigeria to Split Up National Oil Company

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By BENOIT FAUCON: March 4, 2016

Nigeria’s oil minister Emmanuel Ibe Kachikwu said Nigerian National Oil Co. will be broken up into 30 independent oil firms as the country’s government combats corruption and bureaucracy after the oil price crash. PHOTO: REUTERS

The previous administration of Goodluck Jonathan has been widely accused of bribery and misappropriation of funds in the oil sector. Former oil minister Diezani Alison-Madueke is being investigated on corruption allegations in Nigeria and the U.K. Through her lawyer, she has denied any wrongdoing.

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