President Muhammadu Buhari says he will head the Ministry of Petroleum Resources in the new cabinet.
Addressing some select reporters in New York on Tuesday, after addressing a Global Leaders' Summit on Countering ISIL and Violent Extremism, he said: "I wil remain Minister of Petroleum.
"I will appoint a minister of State for Petroleum''.
According to him, this step is being taken as part of efforts to sanitise Nigeria’s oil industry which is said to be plagued by corruption, massive fraud, and crude oil theft.
Buhari restated his determination to sanitise Nigeria's oil industry and free it from corruption and shady deals.
He said that the first step in this direction had already been taken with the appointment of a new management for the NNPC and its subsequent reorganisation.
The President said that the prosecution of those who misappropriated NNPC's revenue under past administrations would soon commence.
On Corruption, he pledged that the federal government will fight corruption, because it has been identified as the root of all problems hindering Nigeria as a nation.