Thursday, 6 August 2015

Buhari Sacks 8 Executive directors of NNPC

In the spirit of change, the Federal Government of Nigeria, who just replaced the Group Managing Director of the Nigerian National Petrol[post_ad]eum Corporation, has further sacked all the eight executive directors of the corporation.

Confirming this on Wednesday, the Group General Manager, Group Public Affairs Division, NNPC, Mr. Ohi Alegbe, said, “The Federal Government has approved the retirement of all eight group executive directors of the NNPC with immediate effect.
The affected group executive directors are Mr. Bernard Otti, GED, Finance and Accounts; Dr. Timothy Okon, acting GED, Exploration and Production, who also doubled as the Coordinator, Corporate Planning & Strategy; Mr. Adebayo Ibirogba, Engineering and Technology; Dr. David Ige, Gas and Power; Ms. Aisha Abdurrahman, Commercial and Investment; Dr. Dan Efebo, Corporate Services; Mr. Ian Udoh, Refining & Petrochemicals; and Dr. Attahiru Yusuf, Business Development.”
Although no replacements were named, gathered that four new group executive director positions had been created and that some names were already being considered by President Muhammadu Buhari to fill them, which included that of the new directorates as of Refining and Engineering, Exploration and Production, Commercial and Investment, and Finance.
It would be recalled that Buhari had a week ago, pledged to fix the oil sector, rid the industry of rot and recover money stolen by operators in the sector, even as he relieved Dr. Joseph Dawha of his appointment as the GMD of the national oil firm on Tuesday, replacing him with Kachikwu, who until his ap[post_ad]
pointment was the Executive Vice Chairman and General Counsel of Exxon-Mobil (Africa).
Meanwhile, the New York-based Natural Resources Governance Initiative has on Tuesday canvassed the need to overhaul the management of the country’s oil sales process by the NNPC as top priority for the Buhari-led administration to stem waste and loss of billions of dollars in revenue stressing that the NNPC’s approach to oil sales was suffering from high corruption risks and had failed to maximise returns for the nation.
“We find that management of the NNPC’s oil sales has worsened in recent years, and particularly since 2010. The largest problems stem from the rising number of ad hoc, makeshift practices the corporation has introduced to work around its deeper structural problems”, authors of the NRGI report, led by Aaron Sayne said.
The NNPC receives about one million barrels of oi[post_ad]l per day, or almost half of the country’s total production, part of which is sold to its subsidiary, Pipelines and Product Marketing Company, for the country’s refineries, while a larger volume is sold to traders.



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