President Buhari sacks MDs of subsidiaries of NNPC.

President Muhammadu Buhari on Tuesday evening fired the managing directors of the subsidiaries of the Nigerian National Petroleum Corporation and retired 38 top management staff of the firm, trimming down their number from 122 to 83.

The President also approved four new directorates for the national oil corporation and appointed four directors to man them.

Buhari further allowed the firm to recruit 12 private sector players into its management cadre to help it jump-start a new business outlook to enhance its operational environment as a profit-driven business and wean the firm from its present civil service orientation.

The four new directorates are Exploration and Production, Finance and Services, Refining and Technology, and Commercial and Investment.