By Imanuel Jannah ABUJA –

Minister of state for Petroluem Dr. Ibe Kachikwu recounted his achievements in the 11 months he held sway as Group Managing Director, GMD, of Nigerian National Petroleum Corporation, NNPC, when he formally assumed the position of Chairman of the Board of NNPC, and handed over the office of GMD, to Dr. Maikanti Baru.

The Minister said on assumption of office as NNPC’s GMD in 2015, the President had asked him to re-position the operational direction of the corporation by tackling problems such as poor profitability index; loss of business transparency and focus and its poor perception. In tackling the challenges, the Minister said in the 11 months he was NNPC GMD, he was able to cut operational losses; deregulate the country’s downstream petroleum sector; initiate a creative means of meeting the corporation’s Joint Venture (JV) contributions; ensuring that the Corporation meets its statutory payments to the federation account among others.

11 months ago, when the president asked me to take over the mantle of leadership of the NNPC, there was indeed an urgency of now, morale was low, things were haywire, there were lots of issues of transparency on the table. The profit index was very poor and the belief of Nigerians in the functionality and reliability of the NNPC was quite frankly at a questionable level.

And the president felt the best way to start my career in the public service under him was first to go to NNPC as outsider and try and bring in certain new structures to help the place change its direction and focus. “Looking back now, I think one must be very grateful to the president not just for the opportunity but for the foresight because I had my own doubts whether I could actually do that given the fact that I was an outsider and this is a very huge institution with over 30-40 years of experience which I was not built into.

But he was persistent on that and looking back at what we have accomplished, I well understand now why he is the very wise president of the nation and I thank him very much for the opportunity that he has given me. “Even when he appointed me minister of state sometime in September, despite all the pressures that he had to quite frankly decouple both positions, understandably, he remained steadfast in feeling that that process should run a course to a point where he is comfortable to decouple it.

I think we have gotten to that point and I thank him for that opportunity. “In the 11 months, let us just rethink some of the things we have achieved. First, we managed after very great difficulties to restructure the NNPC. It is a very massive restructuring that has been able to set out various parameters of the business as profit focused entities of their own. That was a major massive work. “We have been able to cut operational cost by 30 per cent and save a massive amount of money for the group.

We undertook deregulation at the time nobody thought was possible and if there is anything we leave for the industry, it must be the legacy of that deregulation. Today, our fuel consumption has gone down by about 30 percent. We have no queues in the filling stations, we have about one and half months of self-sufficiency. We have strategic reserves that we are putting together.

We have downstream that is for the first time focused on a very strong P&L and I note with very strong satisfaction that if you compare the April results of downstream group with May results, you will see a massive turnaround from about N19 billion in loss to some level of profits. “We succeeded in removing subsidy and saving over N1.4 trillion on yearly basis for this country. We have reduced upstream contracting period from average of two and half years to between six and seven months.

He added that by 2018, 60 per cent of refined products importation will stop and by 2019 Nigeria must become a net exporter of refined petroleum products. Kachikwu said the evidence of the turnaround that has been recorded in NNPC in the 11 months he was at the helm of affairs was the fact that the Corporation recorded a profit of N270 million in May, 2016 for the first time in many years. He said when he took over, NNPC’s losses were in excess of N150 billion. Kachikwu also said attacks on oil installations in the Niger Delta; the country’s daily crude oil production capacity was still at 1.9 million barrels.

http://www.vanguardngr.com/2016/07/ibe-kachikwu-recounts-achievement-nnpc-gmd/

Mr man stfu! u are just an incompetent fella!

buharisbae:
Mr man stfu! u are just an incompetent fella!

But na una same flat-head man o

Story for the gods

The only achievement from my stand point is increase in fuel price from N87 to N145 and frequent fuel scarcity

buharisbae:
Mr man stfu! u are just an incompetent fella!

Dullardic zombie

tayebest:

But na una same flat-head man o

Mr agbero stop quoting me do u want to die young? watery ewedu eater

kendrick9:
Dullardic zombie

at least am not brain washed unlike the iPad wailing yoot!

buharisbae:


Mr agbero stop quoting me do u want to die young?
watery ewedu eater

Ma'am, be cool with me! we shall all die one day!

ozoigbondu:
The only achievement from my stand point is increase in fuel price from N87 to N145 and frequent fuel scarcity

We will jail all the corrupt waillers!

tayebest:

Ma'am, be cool with me! we shall all die one day!

u might not want yo die young oo meanwhile check my signature

...memoirs of Kachikwu indeed!

nothing has been achieved........








by this govt

I believe so much in this man. may God bless you.

It is obvious our man did not achieve anything, that is what happened when you take directive from someone who is clueless, stubborn & corrupt.
Buhari will continue to rubbish southerners, we are seeing how Mr. Fashola is struggling. They gave him 3 portfolio so that he can fail, all his positions will still end up with Hausa-Fulani.

Nepotism is the order of the day & this characterized present government.

It is good. He is just clearing the air so people can know he is no longer in charge


The only human in bubu government has been effectively neutered. The rest are Zombies working to please the Dark Lord. One idiot will tell me the Chairman is better than MD.


We are not surprised anymore, PMB cannot change

ur gud wrks will speak 4 u

Haters can hate as they like, but this man is a brainiac and a natural achiever. I hope the politics being played by the cabals wouldn't strip him of his influence in the petroleum sector.

Well done sir!

Some zombies as shown in their comments up there cannot do half of what you have done.
They think Nigerian Problem is theoretical.
I wonder the kind of brain they have.
They only rant online forming opposition.
they are interested in stealing and eating our yams.

Dx man no get shame

You did a good job and soon the good results will be set out for the public.

buharisbae:
Mr man stfu! u are just an incompetent fella!

you are high!
Kachikwu is the best GMD so far!

I'm still yet to be impressed by the current administration, but I admit that Kachikwu has done himself proud. No doubt, he has achieved on a personal level and attained organizational goals set by his employer. He probably hasn't won a lot of pple over due to his role in the pms price hike that created more hardship for the masses, but I recognise his achievements and will like to give credit where it's due. The role he has played so far in improving the structure/operations of NNPC, and in reaching out to agitators in the Niger Delta is commendable. I feel pple will would look down on his feat due to his association with an administration that has further impoverished society, shown favouritism to a certain region ( the north) while marginalising others, and is still yet to honour key campaign promises (except corruption which remains debatable ). He is far from perfect and has had his fair share of criticism, but I belive he has been one of the bright spots in the current administration when compared to his peers, and if half the ministers performed at his level, then the country wld've been in a better state. If our economy is to turn the corner, then this man is one of the prospective key figures, and will have a major role to play. I just hope Mr President can acknowledge and leverage what Kachikwu has to offer.

where does he stand now?,is he a minister or what, me I don't understand his kind of appointment again ooo

2dugged:
where does he stand now?,is he a minister or what, me I don't understand his kind of appointment again ooo

he is still the minister of state for petrolum

2dugged:
where does he stand now?,is he a minister or what, me I don't understand his kind of appointment again ooo

Lol lol lol

From hands-on power in control as GMD NNPC to just Chairman of one vote in the board room

Such a shame.

MAY relegation not be our portion In Jesus name.

If Buhari thinks he was doing a good job, thus surely won't be the right time to remove him.

The only proper way to fix this is for Buhari to make him FULL minister of Petroleum and not no
equity or paper weight Minister of State

phenol33:
he is still the minister of state for petrolum

ordinary member, chai!

ideylaff:


Lol lol lol

From hands-on power in control as GMD NNPC to just Chairman of one vote in the board room

Such a shame.

MAY relegation not be our portion In Jesus name.

If Buhari thinks he was doing a good job, thus surely won't be the right time to remove him.

The only proper way to fix this is for Buhari to make him FULL minister of Petroleum and not no
equity or paper weight Minister of State

hehehehe, you have not heard of northocracy going on?,He would rather put a northerner there

It's a pity. That's what you get when you leave your brothers to support an outsider. When your help is no longer needed, you will be thrown out immediately, and the worst of it all is that you cannot complain and no one to complain to. You have to just walk away shattered and disappointed. Then the question is, will your brothers still trust you?


I still wonder why he is the first minister to be strip of his duty while some incompetent ones are still handling their portfolios in peace.

buharisbae:

u dey halla ewedu eater,ipad yoot, where do u stand nah?