Senate yesterday expressed satisfaction with actions taken by Minister of State for Petroleum, Dr. Ibe Kachikwu and allowed him to continue with the restructuring taken place in the Nigerian National Petroleum Corporation, NNPC.
This was sequel to the explanation he gave them over the unbundling of the NNPC which he said was not but an internal restructuring to save cost.
Senator Tayo Alasoadura who briefed the press after the meeting with the Joint committee of Upstream, Downstream and Gas said Kachikwu had taken time to explain that they were not unbundling NNPC but restructuring to save cost and attain maximum gains from the corporation.
Kachikwu had on Tuesday announced the creation of seven independent units from the NNPC on Tuesday.
The Senate in the letter of notification of meeting expressed shock over the unbundling of NNPC without amending the Act that established the company and approved by the National Assembly.