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The Group Managing Director, GMD, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, Tuesday, said with the Petroleum Industry Act, PIA, the apex oil company, has become a commercial entity, under the Company and Allied Matters Act, CAMA.

He said the company has started operating in line with its new status, meaning the cutting of unnecessary costs and maximizing profit in order to declare dividends to Nigerians, who are the shareholders.

In an NTA interview, monitored by The Daily, www.thedaily-ng.com, the GMD, said: “We are now expected to operate as a commercial entity under CAMA. Nigerians will be able to buy our shares when we are quoted in the Nigerian Stock Exchange, NSE, in the future. We are in business and must produce results.”