Nigerian National Petroleum Corporation Act

Arrangement of Sections

Part I - Establishment of the corporation

1. Establishment of the Nigerian National Petroleum Corporation.

2. Alternate Chairman.

3. Managing Director and Secretary.

4. Staff generally.

5. General duties of the Corporation.

6. Powers of the Corporation.

7. Financial provisions.

8. Borrowing powers.

9. Disposal of surplus funds.

Part II- Petroleum Inspectorate

10. Petroleum Inspectorate.

11. Head of Inspectorate to be appointed by the Minister, etc.

Part III - Legal Proceedings

12. Limitation of suits against the Corporation, etc.

13. Service of documents.

14. Restriction on execution against the property of the Corporation.

15. Indemnity of members of the Board and employees of the Corporation.

Part IV - Miscellaneous and Supplementary

16. Certain exemptions from rates, etc.

17. Regulation of public access to Corporation's premises.

18. Protection of certain rights.

19. Annual reports.

20. Application of certain enactments.

21. Protection of Corporation' s land.

22. Interpretation

23. Short title and repeal.

First Schedule

Supplementary provisions relating to tenure of office, etc. of members of the board

Second Schedule

Transitional provisions

NIGERIAN NATIONAL PETROLEUM CORPORATION ACT

[Laws of the Federal Republic of Nigeria CAP. N123 L.F.N. 2004]

CITATION

An Act to dissolve the Nigerian National Oil Corporation and to establish the Nigerian National Petroleum Corporation empowered to engage in all commercial activities relating to the Petroleum industry and to enforce all regulatory measures relating to the general control of the Petroleum sector through its Petroleum Inspectorate department.

[COMMENCEMENT 1^st April 1977]

Part I - Establishment of the Corporation.

Establishment of the corporation

Establishment of the Nigerian National Petroleum Corporation.