The Corporate Affairs Commission (CAC) has completed the Incorporation of Nigerian National Petroleum Company Limited in accordance with the provisions of the Petroleum Industry Act (PIA), 2021.
The PIA was signed into law by President Muhammadu Buhari on August 16.
Specifically, Section 53(1) of the Petroleum Industry Act 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.
CAC Registrar General, Alhaji Garba Abubakar, confirmed the incorporation in Abuja while speaking at the quarterly meeting of Heads of Agencies in the Federal Ministry of Industry, Trade and Investment.
He explained that the registration was completed same day after fulfilling all requirements set for the incorporation of the NNPC Limited.
Abubakar, while updating the gathering on the digitisation of the Trademark and Patent Registry, said that the digitisation was being pursued by the CAC in a bid to ensure synergy and eliminate other possible conflicts.
He said that the project was awaiting clearance from NITDA which was studying the statement of requirements submitted to it.
Speaking also on the free Federal Government-sponsored 250,000 business names registration, the Registrar General noted that despite suffering a delay from one of the selected Aggregators, the Commission has less than 3,000 applications to wind up the project.
He, however, gave a commitment to ensure completion by first week of October, 2021.
Earlier, Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, charged the agencies to ensure more commitment and dedication to service for the overall growth of the economy.
The Minister of State for Industry, Trade and Investment, Maryam Katagum, gave an update on the implementation of the COVID-19 Survival Fund which she described as a tough and challenging experience.