Nigeria to incorporate state-oil firm NNPC, board appointed

Buhari, who doubles as petroleum minister, signed an oil bill into law last month that has been in the works for nearly two decades, aiming to overhaul the sector and turn the state-owned oil company into a private firm.(File pic shows oil-pipelines in Nigeria. - AFP)

ABUJA: Nigeria's President Muhammadu Buhari said on Sunday he had appointed a board for state-oil firm NNPC and directed that it should be incorporated within six months, a move that could allow it to sell shares in the future.

Buhari, who doubles as petroleum minister, signed an oil bill into law last month that has been in the works for nearly two decades, aiming to overhaul the sector and turn the state-owned oil company into a private firm.