President Muhammadu Buhari’s
overall plan for Nigeria’s oil and
gas sector for the next four years
was on Wednesday made known
by the Minister of State for
Petroleum Resources, Dr. Ibe
Kachikwu.
According to ThisDay, Kachikwu
who doubles as the Group
Managing Director of the
Nigerian National Petroleum
Corporation (NNPC), said in Abuja
that the government would pay
more attention to increasing
Nigeria’s crude oil and gas
production within this period to
earn more revenue from there.
He also stated that the Petroleum
Industry Bill (PIB) which has
remained dormant for years
would be revived and
represented to the National
Assembly, albeit with new or
reviewed terms.
According to him, the president
has directed him to change the
age long perception of Nigeria’s
petroleum industry as being
corrupt and opaque. He added
that going forward, the ministry
of petroleum resources would
have to imbibe new operational
character that is in line with
standard practices.
“The work in this ministry is
going to be very intense. There is
a lot to be done. I think we have
lost a lot of momentum in this
sector from the practices in the
past and coupled with the
difficult international
environment that we now need
to begin to sit down and map
out very clear deliverables for
us,” Kachikwu said in a meeting
with heads of departments and
parastatals in the ministry.
Pledging to follow due process in
his work at the ministry, he
explained that within the next
couple of months, the ministry
and its personnel would have to
work on keying into the
government’s plan for the sector.
“I will imagine that the first
couple of months, we will get the
heads of the various parastatals
to work with us to understand
what the agenda of the
administration is but very quickly,
we will also sit down to see if
there are capacities that would
be needed. I am not saying I am
going to change people but we
will absolutely require you to
show an ability to deliver so that
we can help finish the change
processes that we have begun.
“Clearly, these things cannot be
done by one person and the
beauty of human association is
that once you get everybody to
an inclusive position, everybody
delivers. I do not have the magic
wands, the magic wand will
come from all of us and all of us
have to buy into this but one
thing I want to assure you is that
in my time here, I will respect the
dignity of everybody,” he
explained.
Further on the direction of the
government, Kachikwu said: “My
direction will also be clear and
that includes that we will have a
very clear and transparent
direction. We will have a very
clear line of where we are going.
“As far as the president is
concerned, there are very clear
directions and one is that the
perceptions and working
atmosphere about this ministry
must change. We are working on
that at the NNPC but people here
who supervise the NNPC must
change.”
“We have dwindling resources
and the whole nation depends
on this ministry to provide the
resources, so, we must be ready
to put on the thinking cap of
how to cut costs, how to meet
federation accounts
requirements, how to put
controls to block leakages, how
to create new income streams
and new investments.
“So, grow income, cut costs, help
the nation stabilise, these are
very key and I think once you
take that, you have probably
gotten a good understanding of
where we are headed. I will like
to be able to do what we have
done in the NNPC in three
months where people can come
and work and be happy,” he
added.
He noted on the PIB that the
National Assembly would be
engaged by the executive arm of
government to get the bill passed
mostly by reviewing the
controversial terms that had held
it back from getting through the
legislative processes.
On gas, the minister said that the
global blueprint encourages gas
development and that it is key
even though it costs money to
get more gas to industries and
homes.
He said that the government will
also concentrate on distributing
stranded gas in the country by
getting key partners to transport
gas across the country, while
getting the oil majors to commit
to producing more gas for
domestic consumption.
The gas pipeline, according to
him, is also key but government
is yet to complete extant projects
that would upon completion
benefit other parts of the
country.
He submitted: “One of the key
investment drive that I will focus
on is how to get money to the
gas environment. And how to get
money from the gas environment
is drilling for gas and explore
and find and development that
will make us get the gas
component.”

Get your ass working. Results is what we want.

Good

We want "talk and do* nt " walking taliking*

CONTINUATION.

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Speaking on improving
processes and controls at the
NNPC, he said that the
government is analysing the
country’s total fuel consumption
in a day with a view to reviewing
NNPC’s domestic crude oil
allocation which currently stands
at 442,000 barrela per day.
He revealed that in collaboration
with the Petroleum Products
Pricing Regulatory (PPPA), he was
already studying whether the
daily consumption of the country
is actually 40 million litre per day
or 25 million litres per day,
adding that by the end of the
year and as government
approaches its budgeting circle,
it will take a decision on this.
Asked to give an update on the
direct sale of crude oil and direct
purchase of products, he said
that the government had
adopted the Offshore Processing
Agreements (OPA), “but the aura
around OPA around the world
was negative even though we
saved about $200 million in the
three months of temporary
system, we still hope we could do
better.”
According to him, a firm is
already doing an analysis on the
refineries in line with its
requirements for the Direct Sale
of Crude and Direct Purchase of
Products that it expects to
commence soon.
On the sudden reemergence of
fuel queues in the country, he
said that Buhari has written to
seek the National Assembly’s
approval for an extra budget of
N413 billion for payment of
outstanding fuel subsidy claims.
The federal government had
announced the approval of the
payment of the fund on
November 4 but the marketers
said that they are yet to receive
their money.
“You know that this President
doesn’t do lip service. The money
was approved by Mr. President.
The money has not reached
them. There is a process that our
constitution requires in terms of
approving those extra budgeting
approval. So Mr. President is
taking time to write to the
National Assembly,” he said.
The minister added that most of
the marketers would close up
since they have zero capacity to
import without payment.
According to him, the NNPC does
not have the singular capacity to
import the petroleum products
that are required to meet the
country’s consumption, hence
the need to pay marketers.
Kachikwu also noted that
without the payment of the
arrears to the marketers it would
have a negative effect on their
support.
“So, we are providing for the
money but need the money from
outside the executive and it will
go through a process. I will urge
them to be a bit patient, the
President is working very hard to
have all these issues resolved.”
He however insisted that there is
enough supply of product as off-
shore and on-shores products
that can sustain the nation for
about 23 days, stressing that the
sufficiency of products is not the
issue, but panic buying by
Nigerians.


http://www.signalng.com/my-overall-plan-for-oil-and-gas-sector-buhari-speaks-via-kachikwu/

jstbeinhonest:
Lalasticlala Seun Obinoscopy.

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