Nigeria’s president, Muhammadu Buhari, has unveiled a revamped national oil company that he called commercially driven and not relying on government funding. Buhari says the Nigerian National Petroleum Company would improve energy security amid shortages and high prices. But energy experts in Nigeria, Africa’s largest oil producer, question if needed reforms will accompany the re-branding. The transition of the Nigerian National Petroleum Corporation (NNPC) into a limited liability company took place Wednesday at a high-level state event in Abuja. During the meeting, President Muhammadu Buhari and other top government officials unveiled the new company’s logo and said its asset base will be declared soon. Buhari said it’s a landmark moment for Nigeria’s oil industry and that it would guarantee energy security in the country. The president also said the new oil company will operate independently, without relying on government funding and rules. Buhari says it will position […]