Following the appointment of Emmanuel Ibe Kachikwu as the managing director of the Nigerian National Petroleum Corporation (NNPC), President Muhammadu Buhari has on Tuesday, August 4, given him six terms of reference to reshape the corporation.
The President, on Wednesday held a closed door meeting with Kachikwu at the Aso Rock President Villa in Abuja at about 10:40am and the meeting came to an end at 12:35pm.
An insider, who craved anonymity, said that Kachikwu might also be appointed the Minister of State for Petroleum Sources.
The other candidates for the position reportedly include the former executive secretary of the Petroleum Products Prices Regulatory Agency, Stanley Reginald; the managing director of the Shell Petroleum Development, Osagie Okunbor, and the NNPC deputy general manager (name not provided).
Charging Kachikwu on his new duties, President Buhari gave him six terms of reference to reshape the corporation:
1. To clean up the organization of corrupt officials;
2. To recover stolen oil money;
3. To work in cooperation with the Economic and Financial Crimes Commission and the Directorate of State Service to ensure the successful fulfillment of point 2;
4. To review the NNPC structure for the body competitive on a global scale;
5. To set goals for all subsidiaries; and
6. To fix the all the national refineries for them to work to maximum effect.
The source also narrated how the new NNPC had been chosen:
“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…
“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’.”
President Buhari has been focusing on the two major challenges after the assumption of office: security and corruption.
It would be recalled his appointment was an attempt by the president to restore the reputation of the body the tops of which are often accused of being involved in corruption schemes.