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Buhari: NNPC Looters To Face Trial Soon by KWD99(m): 8:03am On Sep 28, 2015 |
Kachikwu: more heads to roll in oil giant
Chinese to increase investment
President Muhammadu Buhari yesterday
sent a notice to corrupt Nigeria National
Petroleum Corporation (NNPC) officials
– get set for trial.
Buhari, who spoke in the United States;
stressed the need to sanitise the oil
industry and free it from shady deals.
He said those responsible for the
corruption in the oil giant firm will soon
be prosecuted.
The President spoke in New York during a
meeting with President Xi Jinping of
China on the sidelines of the 70th General
Assembly of the United Nations (UN).
He said the first step in this direction had
already been taken, with the appointment
of a new management for the NNPC and
its subsequent reorganisation.
The President did not indicate how soon
the prosecution would start but many
contracts entered into by the Dr.
Goodluck Jonathan administration have
been cancelled for being shady.
Buhari praised President Xi for China’s
assistance to Nigeria to curb the theft of
crude oil.
He applauded China’s interception of a
shipload of crude oil stolen from Nigeria,
which was to be sold and the proceeds
paid into private accounts.
“We know your stand on corruption and
we are grateful. Your continued
cooperation in curbing oil theft from
Nigeria will be appreciated, ” he said.
Buhari told his Chinese counterpart that
under his leadership, the military had
been re-trained and re-equipped and was
making steady gains in the fight against
Boko Haram.
President Xi said China was involved in
the development of Nigeria in diverse
areas, such as construction of railways,
airports, agriculture, and the Mambilla
Hydro-power project, among others.
He promised that China will increase its
investment in Nigeria’s agricultural
sector to boost food security.
Xi also promised that his country will
invest in Nigeria’s oil and gas industry
and assist in the development of human
resources.
More heads will roll in the NNPC as part
of the ongoing transformation, Group
Managing Director Dr Ibe Kachikwu said
at the weekend.
Kachikwu said: “I have introduced the
three elements I call the three Ps –
people, process and performance. The
people aspect is very key. Individuals
who are aged or affected in a wrong that
impacted the corporation will obviously
be let out. There is no business in the
world for you to keep doing wrong things
and keep progressing. The only way you
can do that obviously is that your
performance modelling and evaluation
must be very strong.
“Right now in the system, I will like to see
our human resources department doing a
better job of evaluating people’s
performance every year. Salary increase
will be done for those who scale the
hurdle. One of the things I have started
doing is that we will be doing a weekly
report card. The report card takes an
issue every week and basically televised
out to every staff and it runs on their
television, which will be the first thing to
turn on to see every Monday. It will
happen every week from now till
December and we are dealing with all
manner of issues- from performance to
behavioural norms, to where we are
headed.”
The NNPC chief said the idea was to
carry everybody along because “in doing
such a restructuring, you ensure
everyone is able to determine one’s
performance, and in doing so, people will
know when they lost their tab”.
Kachikwu also stated that as part of the
transparency efforts, he would bring back
the auditing firm, PricewaterhouseCooper,
that just partially audited the NNPC to
conduct a full audit. He said: “The other
aspect of transparency is how we deal
with the accounting issues. We are doing
a couple of things in this direction. First
we are bringing back the auditors who
gave the partial audit to come and do a
full audit.
“The issue is that they didn’t get all the
data, and we will give them all the data
this time. I need to know the true state of
all the finances of the corporation and
statement of funds up to this day. Our
accounts and finances were last audited
in 2010. They would be audited and drawn
currently to 2015, that is something I
hope I will achieve before December.
“What we know is that whether the
account or performance is good or bad is
secondary. But at least we know what the
state gets and know what it is you want
to work on. We are doing that and the
President is very supportive of that.”
Kachikwu noted that through the
contracts that he cancelled and replaced
with new models, including the delivery of
crude oil to the refineries, the Offshore
Processing Agreements (OPA) and the
crude, for – product exchange agreement
(SWAP), he has been able to save an
average of over $150 million a month for
the nation. |
Re: Buhari: NNPC Looters To Face Trial Soon by henribj(m): 8:24am On Sep 28, 2015 |
sauce |
Re: Buhari: NNPC Looters To Face Trial Soon by MrScript(m): 8:25am On Sep 28, 2015 |
Wow.. Good news, |
(1) (Reply)
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