The federal government of Nigeria has announced that a sub-committee which is to be set up by the National Economic Council (NEC) will work with the appropriate stakeholders in the oil and gas industry on the new status of the Nigerian National Petroleum Company (NNPC) Limited.

This was made known by the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Office of the Vice President, Laolu Akande, on Thursday in Abuja while briefing the State House correspondents after a virtual NEC meeting chaired by the Vice President, Yemi Osinbajo.

Akande said that “The governors at today’s council meeting also raised a few issues regarding the new status of the NNPC Limited, including issues around ownership.

“On the direction of the vice president, the council resolved to set up a sub-committee of council that will liaise with the appropriate Federal Government officials to look at all the issues that have arisen as implications of the new status of the NNPC Limited and also issues around the Petroleum Industry Act.”

Similarly, Governor Abdullahi Sule of Nasarawa, in a virtual interaction with the State House correspondents, said that the Managing Director of the Nigerian Sovereign Investment Authority (NSIA) updated NEC on various activities of the company, especially on the 2021 performance.

Governor Sule said that the company delivered impressive financial results underscoring the resilience of its strategy.

“For the 9th year in a row, the NSIA has consistently remained profitable; closing the year 2021 with a performance of N153.8 billion which is slightly, 99.1 per cent below the 2020 figure of N156. 5 billion.

“The total comprehensive income declined marginally in 2021 by 8.2 percent which actually closed at N160.1 billion.

“The NSIA has reached major milestone across domestic infrastructure in the year under review in terms of projects such as motorways, agriculture, healthcare, technology as well as industrialisation.

“The council resolution therefore accepted the report with commendation by all the members of the council to the management and board of NSIA for a very impressive performance,” he said.

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