Buhari sacks Kachikwu, appoints Baru, Buhari's Chief of Staff, others.

-
 
Dr. Kachikwu Ibe
Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC as part of a wider board overhaul.

 
Oil accounts for about 70 percent of Nigeria' revenue, but the OPEC member has been hit hard by a prolonged drop in crude prices that has caused the deepest crisis in Africa's biggest economy for more than a decade.
 
Dr Maikanti Kacalla Baru, previously group executive director for exploration and production, will take the reins from Kachikwu, who will remain on the board as chairman, the president's spokesman said on Monday.
 
Kachikwu was appointed minister of state for oil last year, making him a junior minister, while Buhari kept the petroleum minister portfolio for himself in order to oversee energy sector reforms.
 
Baru's previous roles at the state oil company included a six year stint, from 1993 to 1999, as an executive at the National Petroleum Investment Management Services (NAPIMS), an NNPC subsidiary, where he worked on gas-related projects.
"President Buhari urges the new board to ensure the successful delivery of the mandate of NNPC and serve the nation by upholding the public trust placed on them in managing this critical national asset,"
said Buhari's spokesman Femi Adesina.
 
The president's chief of staff, Abba Kyari, joins the new board, which replaces the one dissolved by Buhari in June last year.
 
Kachikwu, a former Exxon Mobil executive, was brought in by Buhari as head of NNPC last August and was named as minister of state for oil when his cabinet was appointed a few months later.
 
Rolake Akinkugbe, head of energy and natural resources at FBN Capital, said there was "always a question around how you could have the head of the national oil company who was also the oil minister".
 
"Being moved to chairman, where he will not be involved in day-to-day operations but retains strategic input, helps to resolve that issue," she said.

Comments

Post a Comment

Dont forget to drop a comment.

Popular posts from this blog

Plus One or Minus One

-
Image
“What we do for ourselves dies with us. What we do for others and the world remains and is immortal.” Every once in year there is that special day in the lives of everyone. The day we commemorate our grand entries into the world, that reminds us the day we took our first breaths,the day we began our great sojourn, the day our loving mothers travailed in labour and prevailed. The day our tiny crying voices wiped away every pain of delivery our mothers suffered and brought laughter and happiness to everyone around us. The day we mark our birthdays. You would agree with me that birthdays are considered one of the most important days in a person's life. Little wonder people attach so much relevance to it,(some probably more than others).There are plenty relationships that have been strained because one party forgot the birthday of the other or did not mark it in a way that was expected of them. I do not blame them much, a birthday is special and the celebrant ought to be tre...
Read more

Russian transgender woman to serve jail term in mens prison.

-
Image
  Authorities rejected Dmitry Kozhukhov, 25, who just change her name to Alina davis, plea to serve in a women's prison because she is still registered and ‘physically’ a man. They insisted she should serve her two month sentence for driving with a fake licence in a male prison. A police spokesman said: "Kozhukov aka Davis is a man according to his documents and as a result he was sent to a male prison." Dmitry before transgender operation When she asked if it was possible to at least get a single cell in the jail she was also refused, with the prison service saying they did not have any. She is now sharing the jail cell with four male prisoners in the city of Egorievsk in western Russia’s Moscow region. When she was arrested over the drugs charges, police decided not to keep her in custody because they could not work out which type of cell to give her, but now after the second offence they have acted and told her she will go to a male prison. ...
Read more