Nigeria is set to split its giant state-run National Oil Company into 7 independent units in an effort to improve efficiency in the wake of the oil price crashThe Wall Street Journal reported. Before it was said that the split would be into 30 units, PremiumTimesNg.com reported.

The Minister of State for Petroleum Resources, Ibe Kachikwu said five of the seven operational units will be strictly business-focussed in line with global best practices of national oil companies. The new units include those for Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance and Accounts.

The Minister promised that the NNPC would return to making profits as of July 2016, the first time since 2001, acording to Africa News.

The NNPC, which oversees oil fields from Africa’s largest oil producer, has suffered from decades of mismanagement and corruption. With the company having recorded losses for many years and with the country struggling financially because of low oil prices, the administration of President Muhammadu Buhari is taking steps to root out its problems by breaking up the country’s powerful oil bureaucracy and transform the NNPC into a profitable enterprise.