The Corporate Affairs Commission (CAC) on Wednesday, announced that it has successfully finalized the incorporation of Nigerian National Petroleum Company (NNPC) Limited in accordance with the provisions of the Petroleum Industry Act (PIA), 2021 which was signed into law by President Muhammadu Buhari on August 16.
This was established shortly after President Buhari ordered the incorporation of NNPC Limited in his capacity as the substantive Minister of Petroleum.
Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within 6 months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company.
This was confirmed by the Registrar-General of the Corporate Affairs Commission, Alhaji Garba Abubakar, while speaking at the Quarterly meeting of Heads of Agencies in the Federal Ministry of Industry Trade and Investment on Wednesday in Abuja
According to NAN, Abubakar said that the registration was completed same day after fulfilling all requirements set for the incorporation of the NNPC Limited.
Credit :- Nairametrics
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