The Nigerian National Petroleum Corporation (NNPC), could be unbundled this year if the All Progressive Congress (APC), emerge victorious in the forthcoming presidential elections in February.
Speaking at the Nigerian Political Parties Debate on Thursday, in Abuja, the APC spokesman, Alhaji Lai Mohammed, said that if the party was elected into the presidency, it would ensure the full participation of Nigerians in discussions concerning the oil and gas sector using the National Assembly platform.
According to him, the corruption in the oil sector is retarding its progress, adding the party will unbundle the Nigerian National Petroleum Corporation (NNPC).
He added if given the mandate, APC would establish an Oil and Gas Regulatory Authority to supervise its activities.
According to him, the planned unbundling of the corporation will help to checkmate corruption, ensure transparency and the accountability in the oil sector and particularly in the NNPC.
“Within the first 12 months of our stay in office, we will ensure the passage of the Petroleum Industry Bill (PIB) law and unbundle the NNPC and the petroleum industry.
“When we get to government, we will get the original copy of the PIB and present it to the National Assemble for passage. If within four years in office, we do not implement this, give us a red card,’’ he said.
Mohammed added that the party would establish modern oil refineries to increase the flow of oil and gas product to domestic consumers.