President Muhammadu Buhari of Nigeria said in U.S. that he would be reforming the oil and gas sector by splitting the NNPC (the state oil company) into two parts.
He explained that the first would become an independent regulator for the sector, while the second would act as an investment vehicle for the country.
According to him, the measure would curb high corruption at the NNPC.
Buhari also promised to end political control of the awarding of drilling and exploration rights by introducing a system of independent, transparent auctioning for licences.
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