NNPC Limited is a for profit oil company in Nigeria. Formerly a government-owned corporation, it was transformed from a corporation to a limited liability company in July 2022. NNPC Limited is the only entity licensed to operate in the country's petroleum industry. It partners with foreign oil companies to exploit Nigeria's fossil fuel resources. History NNPC was established on 1 April 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Petroleum and Energy Resources. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, TotalEnergies, Chevron, and Texaco (now merged with Chevron). Through collaboration with these companies, the Nigerian government conducts petroleum exploration and production. In 2007, the head of the Nigerian wing of Transparency International said salaries for NNPC workers were too low to prevent graft. The NNPC Towers in Abuja is the headquarters of NNPC. Consisting of four identical towers, the complex is located on Herbert Macaulay Way, Central Business District Abuja. NNPC also has zonal offices in Lagos, Kaduna, Port Harcourt and Warri. It has an international office located in London, United Kingdom. In October 2019, NNPC stated that it had signed a $2.5 billion pre-payment agreement with Nigeria LNG for upstream gas development projects. In December 2021, the Federal Government of Nigeria and the Nigeria National Petroleum Corporation (NNPC) Ltd signed a N621 billion Memorandum of Understanding to finance the construction of critical road infrastructure in Nigeria. Following passage of a Petroleum Industry Act in August 2021, the government of Nigeria announced on July 19, 2022, that NNPC will "now operate as a commercial entity without relying on government funding and direct controls". NNPC was established as a limited liability corporation in the hopes that a private entity will find it easier to access international capital markets. The company will continue to bear responsibility for distributing and selling fuel in Nigeria, but the state will now assume the responsibility of subsidizing the cost of fuel. Leadership President Buhari appointed Mele Kyari as the new Group Managing Director (GMD) now known as the Group Chief Executive Officer of NNPC. Kyari replaces Maikanti Baru. The new GMD and the other appointed NNPC officials would work alongside the current officers in the same position until the 7 July 2019. Dr. Maikanti Baru (7 July 1959 – 29