The Nigeria Labour Congress, NLC, has opined that the Nigeria National Petroleum Corporation, NNPC, should be transformed into a public liability company where every Nigerian can own shares.
The NLC President, Comrade Ayuba Wabba who made this known during an interview with newsmen, urged the National Assembly to effectively see to the transformation of NNPC into a Public Liability Company.
”We would like to draw the attention of the National Assembly to the need to handle with utmost care the very sensitive issue of splitting the Nigeria National Petroleum Corporation (NNPC).
“We are concerned that Clause 53 of the PIB, as passed by the House of Representatives, does not seem to sufficiently capture the desire of the Nigerian people and this is not good enough.
”Therefore, we urge the National Assembly during its conference to effectively see to the transformation of the Nigeria National Petroleum Corporation into a Public Liability Company.
“This would project the democratic appeal of the PIB as a legal instrument that caters for the masses of Nigeria.
”Also we feel that poor Nigerians who have endured the shorter end of the stick under the old petroleum law deserve better,” he said.
NNPC transformed into ‘limited liability company’