Senate probes NNPC unbundling

Senate probes NNPC unbundling

Wednesday, March 9, 2016 5:14 pm

The Senate will tomorrow examines the issues surrounding Federal Government’s decision to unbundle the Nigerian National Petroleum Corporation (NNPC).

This followed a Point of Order raised by the Chief Whip, Prof. Olusola Adeyeye, who drew the attention of the chamber to the unbundling of the nation’s agencies regulating the oil and gas sector.

President of the Senate, Bukola Saraki, directed Adeyeye to formally present a motion on the development for “extensive debate’’ on Thursday.

Also, the Bill for an Act to amend the Nigeria Sovereign Investment Authority Act 2011 has passed second reading.

The bill, which was sponsored by Sen. Buhari Abdulfatai (APC-Oyo North) is meant to restore sovereignty of the Naira as the national currency to ensure transparency of the nation’s funding.

The bill also seeks to entrench parliamentary accountability.

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