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 terms of reference to reshape the corporation. They are to:
clean up the NNPC system of corrupt elements;
recover all stolen crude oil funds;
work with the Economic and Financial Crimes Commission (EFCC) and the Directorate of State Service (DSS) to trace and recover stolen oil cash;
review the structure of the NNPC to compete globally;
giving targets to all subsidiaries and put in place performance benchmarks; and
fixe 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.