NewStats: 3,262,288 , 8,176,718 topics. Date: Sunday, 01 June 2025 at 05:41 PM 6i1s4s

President gives new helmsman Kachikwu six tasks

A NEW helmsman took the reins yesterday at the Nigerian National Petroleum Corporation (NNPC).

President Muhammadu Buhari appointed Dr. Emmanuel Ibe Kachikwu, the Executive Vice Chairman/General Counsel of ExxonMobil (Africa), as Group Managing Director (GMD), asking him to give recovery of stolen oil money a priority, among other targets.

Buhari may also appoint Kachikwu, who beat three other candidates in the race for the job, as the Minister of State for Petroleum Resources to ensure synergy, a source said last night.

Those also considered and discreetly screened for the job, source told The Nation learnt, are former Petroleum Products Prices Regulatory Agency (PPPRA) Executive Secretary Stanley Reginald; Shell Petroleum Development Company Managing Director Mr. Osagie Okunbor and a NNPC Deputy General Manager, whose name was not disclosed.

At the final negotiation with Kachikwu, the President gave him six of reference to reshape the corporation. They are to:

1. Clean up the NNPC system of corrupt elements;

2. Recover all stolen crude oil funds;

3. Work with the Economic and Financial Crimes Commission (EFCC) and the Directorate of State Service (DSS) to trace and recover stolen oil cash;

4. Review the structure of the NNPC to compete globally;

5. Giving targets to all subsidiaries and put in place performance benchmarks; and

6. Fix all refineries, which must work at optimal level, “even if it means using expatriates in the interim”.

A source said: “The new GMD of NNPC was picked after a thorough search by the President. Actually, at the end of the search, the choice was narrowed down to four candidates.

“The President opted for Kachikwu who is the Vice President of Exxon Mobil, not only in Nigeria but in Africa. Buhari was impressed by his impeccable credentials as the most senior black African in any multi-national oil firm in the world with 30 years experience.

“Apart from being a First Class graduate, Kachikwu also obtained PhD in Law which enabled him to rise to company secretary in Exxon Mobil.”

But it was not easy for the President to convince Kachikwu to accept the job because he was afraid that he might be messed up like other Nigerians, a source said.

“In their negotiation, President Buhari repeatedly said: ‘I won’t interfere with your work; I will give you a free hand because I want to reform this oil sector once and for all.’ The GMD accepted the job following what he realized as “the infectious patriotism and genuine intention of the President,: the source said.

Kachikwu yesterday took the reins at a brief ceremony held at the NNPC Towers, Abuja .

The Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, in a statement, said the new helmsman expressed gratitude to his predecessor, Dr. Joseph T. Dawha, for holding the Corporation. He pledged to work assiduously in achieving the President’s growth aspiration for the oil and gas industry.

“ExxonMobil Upstream s in Nigeria congratulate our Vice-Chairman and General Counsel, Dr. Emmanuel Kachikwu, on this opportunity to serve Nigeria as Group Managing Director of the Nigeria National Petroleum Corporation (NNPC). We thank Dr. Kachikwu for his many contributions to ExxonMobil Nigeria, and wish him well in his new role.”

Inside the NNPC

The NNPC is the national oil company, through which the Federal Government regulates and participates in the country’s petroleum industry.

An Act to dissolve the former Nigerian National Oil Corporation and to establish the NNPC was created in 1977. The NNPC was established on April 1, 1977, as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel.

By law, the NNPC manages the t venture between the Federal Government and some foreign multinational corporations including Shell, Agip, ExxonMobil, Chevron, and Total. Through collaboration with these companies, the Federal Government conducts petroleum exploration and production.

For lack of supervision, the NNPC degenerated to a rent-collector for the government with less attention to transparency and ability.

Between 2007 and 2009, auditors found that the corporation over-deducted funds in subsidy claims to the tune of N28.5 billion and has not been able to for the money.

In 2008, Willbros Group Inc of United States (U.S.) itted making ‘suspicious’ payments of over $6.3 million to officials of the corporation and its subsidiary – the National Petroleum Investment Management Services (NAPIMS) for assistance in obtaining and retaining contracts at the Eastern Gas Gathering System (EGGS).

In 2004, ABB Vetco Gray, a U.S. company and its UK subsidiary – ABB Vetco Gray UK Limited – itted paying over $1 million in bribes to NAPIMS’ officials, in exchange for obtaining confidential bid information and favourable recommendations from government agencies.

After the publication of a report In November 2013 by Swiss, a non-governmental advocacy organisation – Erklärung von Bern – allegations of fraud surfaced, placing the NNPC under suspicion of siphoning $6.8 billion of crude oil revenues.

From 2013, the NNPC has been battling with the allegation of non-remittance of $20 billion into the Federation .

These allegations, among others are responsible for the continued calls for the sanitisation and repositioning of the corporation.

http://thenationonlineng.net/recover-stolen-oil-money-buhari-tells-nnpc-boss/

lalasticlala

yes he can














who is following to enjoy the new chrome update

INTROVERT:
yes he can

can he yes

FowlYansh:

the burantashi gworo chewing burkutu sipping dullard that ought to know that appointment a northerner as NNPC Boss will have been the best because the Northerners are more disciplined than an Igbo man.

Another Presidential decision suffering from dullardhinosis

President Buhari always associate with clean and incorruptible fellows. So I trust God that the new NNPC boss will perform awesomely by God grace.

Wish you all the best and make Nigerians proud in your appointment.

PMB baba,adekeja 1 of Nigeria.
Baba Go slow wey go feature for fast and furious.

Well... . the man looks like he knows what he is doing

Lanretoye:
PMB baba,adekeja 1 of Nigeria.
Baba Go slow wey go feature for fast and furious.

Which of ur past president or family are better than PMB??
you just type as if u are having serious brain migrane..

"But it was not easy for the President to convince Kachikwu to accept the job because he was afraid that he might be messed up like other Nigerians, a source said.

“In their negotiation, President Buhari repeatedly said: ‘I won’t interfere with your work; I will give you a free hand because I want to reform this oil sector once and for all.’ The GMD accepted..."


Congrats bro,

But be very careful, the bolded are very valid fears.
Once you are not a Bunmi or Adamu, Nigerians will be critical of ur every move. They are so unsettled about your credentials which they can never match. Before stories that may want to dent your image start flying round. Lolzz

Obj may tell us, "the Kachikwu that worked for ExxonMobil is different from the one that worked for NNPC"

Always watch ur back/shadows.

Huge task await him. I pray he sanitize the system

Whoever said Buhari is dumb is lying. Check this out ...

The looters of NNPC are SS/SE people in last istration. So he picked a Deltan Igbo and gave him mandate to go after his own people using the authority of EFCC to do so. The Minister is not going to be a SS/SE and cannot therefore be accused of witch hunting when Madueke, Offor and the accomplises are rounded up in black maria. All eyez will be on Kechikwu because his performance as GMD is tied to recovery of loot, prosecution of looters and expansion of oil resource and production for the benefit of all Nigerians.

You cannot accuse Yoruba and Hausa of stealing your oil....your own son will now make sure that it is owned nationally.

Sai Buhari!

koligs:


Which of ur past president or family are better than PMB??
you just type as if u are having serious brain migrane..

Mtcheew...are there no elders in your family?,omo ale.

Congrats to Mr Kachikwu on this excellent recognition.

Congrats also to 5%ers!

OPCNAIRALAND:
Whoever said Buhari is dumb is lying. Check this out ...

The looters of NNPC are SS/SE people in last istration. So he picked a Deltan Igbo and gave him mandate to go after his own people using the authority of EFCC to do so. The Minister is not going to be a SS/SE and cannot therefore be accused of witch hunting when Madueke, Offor and the accomplises are rounded up in black maria. All eyez will be on Kechikwu because his performance as GMD is tied to recovery of loot, prosecution of looters and expansion of oil resource and production for the benefit of all Nigerians.

You cannot accuse Yoruba and Hausa of stealing your oil....your own son will now make sure that it is owned nationally.

Sai Buhari!

Spot on Bro...
All we have to do now is wait for the wailers to come wail about it...

As long as he keeps away from the allure of wealth and learn from the Soludo example, then he should be fine

By giving him the proper , cos recovering it goes beyond just saying it or telling him.

IanDiamonds:


Spot on Bro...
All we have to do now is wait for the wailers to come wail about it...

IanDiamonds:


Spot on Bro...
All we have to do now is wait for the wailers to come wail about it...

the wailers are here, them don come. this is a counter attack from the presidency on SS/SE using it's own son but this is niaja trust me. 4/2 sometimes is equal 1.5
let the presidency appoint a SS/SE as minister of Agriculture, lets expose the fertilizer looters.
smiling shishichichi.

okay..

Yea, he is equal to the task. Ride on PMB

Seems like a tall order but the man has everything that would enable him achieve the mandate.
People who fear failure would succeed if well pressurized. (As lazy people discover easiest method to tasks if pressurized)

I am not seeing an Ibo or a Delta-Ibo but a hard-working, intelligent man who can compete globally.


Lovely career, I pray he succeeds

May God protect PMB!

May God direct him , guide him, control all his action to achieve the best IJN.

PMB ride on. Proudly 5% i'm solidly behind you.

what a huge task. The man can do it!!!

By fire or by thunder, Nigeria shall be great again. I just love PMB; God's own chosen one to lead us to greatness.

OPCNAIRALAND:
Whoever said Buhari is dumb is lying. Check this out ...

The looters of NNPC are SS/SE people in last istration. So he picked a Deltan Igbo and gave him mandate to go after his own people using the authority of EFCC to do so. The Minister is not going to be a SS/SE and cannot therefore be accused of witch hunting when Madueke, Offor and the accomplises are rounded up in black maria. All eyez will be on Kechikwu because his performance as GMD is tied to recovery of loot, prosecution of looters and expansion of oil resource and production for the benefit of all Nigerians.

You cannot accuse Yoruba and Hausa of stealing your oil....your own son will now make sure that it is owned nationally.

Sai Buhari!

The last I checked 80% if the oil well thieves are from the north/sw so I do not see how that is going to affect his job.oil subsidy thieves like Otedola and Wale Tinubu are in a very big trouble

And the good thing is, anybody (including Kechikwu) that is not ready to work or does not meet target or not performing will be removed and replaced immediately. "Kosere ni Moscow"

chukwudi44:


The last I checked 80% if the oil well thieves are from the north/sw so I do not see how that is going to affect his job.oil subsidy thieves like Otedola and Wale Tinubu are in a very big trouble

How about Oga Ifeanyi Ubah?

Anyhoo, he his probably going to concentrate more on unraveling the ing fraud perpetrated within the company as well as the pressing need to address the issue of Crude SWAP's

[size=20pt]Not just to recover

But to book all those involve


***dont miss my signature***[/size]

He will

Let the good work begin

Ok sire