The Nigerian National Petroleum Company (NNPC) Limited has been fully incorporated, the Corporate Affairs Commission (CAC) has said.
President Muhammadu Buhari, a fortnight ago, directed the incorporation of NNPC Limited.
He said the directive was to comply with the provisions of the Petroleum Industry Act (PIA).
The Registrar-General of the CAC, Garba Abubakar, confirmed the incorporation on Tuesday in Abuja, while speaking at the quarterly meeting of heads of agencies in the Federal Ministry of Industry, Trade and Investment.
Section 53(1) of PIA 2021 requires the minister of petroleum resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the minister of finance on the nominal shares of the company.
As a limited liability company, NNPC will be required to pay taxes and dividends to its shareholders.
Abubakar said that the registration was completed the same day after fulfilling all requirements set for the incorporation of the NNPC Limited.
He also updated the gathering on the digitisation of the trademark and patent registry which was being done by the CAC to ensure synergy and eliminate possible conflicts.
He explained that the digitisation project was awaiting approval from the National Information Technology Development Agency (NITDA).
