₦airaland Forum

ipreach:
where is the reform?

simtosul:
The World Bank wednesday said it was impressed
with the reforms initiated by the Minister of State
for Petroleum Resources and Group Managing
Director of the Nigerian National Petroleum
Corporation (NNPC), Dr. Ibe Kachikwu, at the state-
run oil company in order to reposition it into a
profit yielding entity.
The bank also commended Kachikwu for bringing
transparency and accountability to NNPC and
Nigeria’s oil and gas sector.
A statement from the Group General Manager,
Public Affairs of NNPC, Mallam Garuba Deen
Muhammad, in Abuja contained this development.
According to the statement Managing Director of
the bank, Sir Mulyani Indrawati, said this when she
paid an official visit to Kachikwu in his office in
Abuja.
According to Indrawati, the ‘20 fixes’ introduced by
Kachikwu to the NNPC business models have gone
a long way to reform the corporation for
profitability.
She said the bank was ready and available to offer
the ministry of petroleum resources technical
support, advice and funding.
She stressed that adoption of sound policy thrusts
was key in the areas of fiscal direction, gas flare
out and gas to power for Nigeria.
The statement also quoted Kachikwu to have said
that since he assumed duty in August 2015, he had
introduced lots of reforms ranging from the first
phase of restructuring and the recent restructuring
which served as enablers for the introduction of new
business models that have drastically reduced the
losses recorded by the NNPC in the past.
“We first started with the softer issues which were
transparency issues, governance, restructuring and
that was going well when we went straight into the
business model.
“For example, when we came in, the NNPC was
recording huge losses and we have been able to
reverse that trend and if we continue with that sort
of trajectory then we should be able to record profit
in the near future,” said Kachikwu.
He added that a lot of institutional framework
restructuring are still ongoing in all the parastatals
under his watch.
According to him: “Infrastructure is the toughest
gap as a lot of depots and pipelines need urgent
attention and you need infrastructure, be it in the
upstream and downstream sector, for you to deliver
results but we will continue to throw solutions at
them and try to get private sector participation.”
He said: “The other tough gap is the funding. Just
sheer funding of the upstream joint venture cash
calls demands a lot of money and we are not
pretending about it. Again, the President has
travelled from point to point and a lot of people
have offered to support.”
Kachikwu urged the World Bank to offer support in
the area of institutional framework and training for
the ministry and NNPC, adding that the training
would provide the necessary skill sets that are
required to grow Nigeria’s oil and gas industry.
NNPC through the “20-fixes” which are however
embedded in five cardinal business objectives that
it intends to pursue, plans to amongst other
initiatives, attain zero tolerance for corruption,
restructure its major subsidiaries as well as
enhance probity in its operations across board.
Also to be done within the initiative are, reduction
and audit of running costs; restructuring of
corporate centres and staff; renegotiation of existing
contracts including Production Sharing Contracts
(PSC); streamlining of subsidy management as well
as improve security of the country’s critical
petroleum pipelines.
The corporation will also restructure its refining
business; improve on its use of information
technology for its businesses and demand for
topnotch service performance from all its staff in
the ‘20 fixes’

www.thisdaylive.com/index.php/2016/04/28/world-bank-gives-kachikwu-thumbs-up-on-nnpc-reforms/

989900B:
Pipelines, refineries, depots are getting back on stream.
NNPC is almost back to making profit from record losses in the past few years.
Better accountability.
Patience is a virtue.

simtosul:
The World Bank wednesday said it was impressed
with the reforms initiated by the Minister of State
for Petroleum Resources and Group Managing
Director of the Nigerian National Petroleum
Corporation (NNPC), Dr. Ibe Kachikwu, at the state-
run oil company in order to reposition it into a
profit yielding entity.
The bank also commended Kachikwu for bringing
transparency and accountability to NNPC and
Nigeria’s oil and gas sector.
A statement from the Group General Manager,
Public Affairs of NNPC, Mallam Garuba Deen
Muhammad, in Abuja contained this development.
According to the statement Managing Director of
the bank, Sir Mulyani Indrawati, said this when she
paid an official visit to Kachikwu in his office in
Abuja.
According to Indrawati, the ‘20 fixes’ introduced by
Kachikwu to the NNPC business models have gone
a long way to reform the corporation for
profitability.
She said the bank was ready and available to offer
the ministry of petroleum resources technical
support, advice and funding.
She stressed that adoption of sound policy thrusts
was key in the areas of fiscal direction, gas flare
out and gas to power for Nigeria.
The statement also quoted Kachikwu to have said
that since he assumed duty in August 2015, he had
introduced lots of reforms ranging from the first
phase of restructuring and the recent restructuring
which served as enablers for the introduction of new
business models that have drastically reduced the
losses recorded by the NNPC in the past.
“We first started with the softer issues which were
transparency issues, governance, restructuring and
that was going well when we went straight into the
business model.
“For example, when we came in, the NNPC was
recording huge losses and we have been able to
reverse that trend and if we continue with that sort
of trajectory then we should be able to record profit
in the near future,” said Kachikwu.
He added that a lot of institutional framework
restructuring are still ongoing in all the parastatals
under his watch.
According to him: “Infrastructure is the toughest
gap as a lot of depots and pipelines need urgent
attention and you need infrastructure, be it in the
upstream and downstream sector, for you to deliver
results but we will continue to throw solutions at
them and try to get private sector participation.”
He said: “The other tough gap is the funding. Just
sheer funding of the upstream joint venture cash
calls demands a lot of money and we are not
pretending about it. Again, the President has
travelled from point to point and a lot of people
have offered to support.”
Kachikwu urged the World Bank to offer support in
the area of institutional framework and training for
the ministry and NNPC, adding that the training
would provide the necessary skill sets that are
required to grow Nigeria’s oil and gas industry.
NNPC through the “20-fixes” which are however
embedded in five cardinal business objectives that
it intends to pursue, plans to amongst other
initiatives, attain zero tolerance for corruption,
restructure its major subsidiaries as well as
enhance probity in its operations across board.
Also to be done within the initiative are, reduction
and audit of running costs; restructuring of
corporate centres and staff; renegotiation of existing
contracts including Production Sharing Contracts
(PSC); streamlining of subsidy management as well
as improve security of the country’s critical
petroleum pipelines.
The corporation will also restructure its refining
business; improve on its use of information
technology for its businesses and demand for
topnotch service performance from all its staff in
the ‘20 fixes’

www.thisdaylive.com/index.php/2016/04/28/world-bank-gives-kachikwu-thumbs-up-on-nnpc-reforms/

Firefire:
Chai...

What is more than corruption and impunity to officially fix pump price of petrol at N86.5/L and it sells for as much as N400/L across the country. Height of corruption and insensitivity by the clueless government. - SMH

simtosul:
The World Bank wednesday said it was impressed
with the reforms initiated by the Minister of State
for Petroleum Resources and Group Managing
Director of the Nigerian National Petroleum
Corporation (NNPC), Dr. Ibe Kachikwu, at the state-
run oil company in order to reposition it into a
profit yielding entity.
The bank also commended Kachikwu for bringing
transparency and accountability to NNPC and
Nigeria’s oil and gas sector.
A statement from the Group General Manager,
Public Affairs of NNPC, Mallam Garuba Deen
Muhammad, in Abuja contained this development.
According to the statement Managing Director of
the bank, Sir Mulyani Indrawati, said this when she
paid an official visit to Kachikwu in his office in
Abuja.
According to Indrawati, the ‘20 fixes’ introduced by
Kachikwu to the NNPC business models have gone
a long way to reform the corporation for
profitability.
She said the bank was ready and available to offer
the ministry of petroleum resources technical
support, advice and funding.
She stressed that adoption of sound policy thrusts
was key in the areas of fiscal direction, gas flare
out and gas to power for Nigeria.
The statement also quoted Kachikwu to have said
that since he assumed duty in August 2015, he had
introduced lots of reforms ranging from the first
phase of restructuring and the recent restructuring
which served as enablers for the introduction of new
business models that have drastically reduced the
losses recorded by the NNPC in the past.
“We first started with the softer issues which were
transparency issues, governance, restructuring and
that was going well when we went straight into the
business model.
“For example, when we came in, the NNPC was
recording huge losses and we have been able to
reverse that trend and if we continue with that sort
of trajectory then we should be able to record profit
in the near future,” said Kachikwu.
He added that a lot of institutional framework
restructuring are still ongoing in all the parastatals
under his watch.
According to him: “Infrastructure is the toughest
gap as a lot of depots and pipelines need urgent
attention and you need infrastructure, be it in the
upstream and downstream sector, for you to deliver
results but we will continue to throw solutions at
them and try to get private sector participation.”
He said: “The other tough gap is the funding. Just
sheer funding of the upstream joint venture cash
calls demands a lot of money and we are not
pretending about it. Again, the President has
travelled from point to point and a lot of people
have offered to support.”
Kachikwu urged the World Bank to offer support in
the area of institutional framework and training for
the ministry and NNPC, adding that the training
would provide the necessary skill sets that are
required to grow Nigeria’s oil and gas industry.
NNPC through the “20-fixes” which are however
embedded in five cardinal business objectives that
it intends to pursue, plans to amongst other
initiatives, attain zero tolerance for corruption,
restructure its major subsidiaries as well as
enhance probity in its operations across board.
Also to be done within the initiative are, reduction
and audit of running costs; restructuring of
corporate centres and staff; renegotiation of existing
contracts including Production Sharing Contracts
(PSC); streamlining of subsidy management as well
as improve security of the country’s critical
petroleum pipelines.
The corporation will also restructure its refining
business; improve on its use of information
technology for its businesses and demand for
topnotch service performance from all its staff in
the ‘20 fixes’



www.thisdaylive.com/index.php/2016/04/28/world-bank-gives-kachikwu-thumbs-up-on-nnpc-reforms/

Caseless:
O ye shidren of hate, kachikwu is getting commendation from those that once said we can't do it.
What sayeth thou?

SamuelAnyawu:
Reforms without sufficient fuel for the masses?
Good morning Nairalanders, Have you blamed GEJ today?

prospero5:
''...the bank is ready to offer the ministry of petroleum resources technical support, advice and funding...'' we are technically waiting to buy 1 litre of fuel for N65.

hadura29:
my brother those people are just looking for ways to borrow us money . May God help us in this country. Good morning..

God bless Nigeria..

simtosul:
The World Bank wednesday said it was impressed
with the reforms initiated by the Minister of State
for Petroleum Resources and Group Managing
Director of the Nigerian National Petroleum
Corporation (NNPC), Dr. Ibe Kachikwu, at the state-
run oil company in order to reposition it into a
profit yielding entity.
The bank also commended Kachikwu for bringing
transparency and accountability to NNPC and
Nigeria’s oil and gas sector.
A statement from the Group General Manager,
Public Affairs of NNPC, Mallam Garuba Deen
Muhammad, in Abuja contained this development.
According to the statement Managing Director of
the bank, Sir Mulyani Indrawati, said this when she
paid an official visit to Kachikwu in his office in
Abuja.
According to Indrawati, the ‘20 fixes’ introduced by
Kachikwu to the NNPC business models have gone
a long way to reform the corporation for
profitability.
She said the bank was ready and available to offer
the ministry of petroleum resources technical
support, advice and funding.
She stressed that adoption of sound policy thrusts
was key in the areas of fiscal direction, gas flare
out and gas to power for Nigeria.
The statement also quoted Kachikwu to have said
that since he assumed duty in August 2015, he had
introduced lots of reforms ranging from the first
phase of restructuring and the recent restructuring
which served as enablers for the introduction of new
business models that have drastically reduced the
losses recorded by the NNPC in the past.
“We first started with the softer issues which were
transparency issues, governance, restructuring and
that was going well when we went straight into the
business model.
“For example, when we came in, the NNPC was
recording huge losses and we have been able to
reverse that trend and if we continue with that sort
of trajectory then we should be able to record profit
in the near future,” said Kachikwu.
He added that a lot of institutional framework
restructuring are still ongoing in all the parastatals
under his watch.
According to him: “Infrastructure is the toughest
gap as a lot of depots and pipelines need urgent
attention and you need infrastructure, be it in the
upstream and downstream sector, for you to deliver
results but we will continue to throw solutions at
them and try to get private sector participation.”
He said: “The other tough gap is the funding. Just
sheer funding of the upstream joint venture cash
calls demands a lot of money and we are not
pretending about it. Again, the President has
travelled from point to point and a lot of people
have offered to support.”
Kachikwu urged the World Bank to offer support in
the area of institutional framework and training for
the ministry and NNPC, adding that the training
would provide the necessary skill sets that are
required to grow Nigeria’s oil and gas industry.
NNPC through the “20-fixes” which are however
embedded in five cardinal business objectives that
it intends to pursue, plans to amongst other
initiatives, attain zero tolerance for corruption,
restructure its major subsidiaries as well as
enhance probity in its operations across board.
Also to be done within the initiative are, reduction
and audit of running costs; restructuring of
corporate centres and staff; renegotiation of existing
contracts including Production Sharing Contracts
(PSC); streamlining of subsidy management as well
as improve security of the country’s critical
petroleum pipelines.
The corporation will also restructure its refining
business; improve on its use of information
technology for its businesses and demand for
topnotch service performance from all its staff in
the ‘20 fixes’



www.thisdaylive.com/index.php/2016/04/28/world-bank-gives-kachikwu-thumbs-up-on-nnpc-reforms/

989900B:
Pipelines, refineries, depots are getting back on stream.

NNPC is almost back to making profit from record losses in the past few years.

Better accountability.

Patience is a virtue.

the bank is ready to offer the ministry of petroleum resources technical support, advice and funding

musicwriter:
Here is the world bank lobbying the NNPC to accept loan, even before we ask for it.

African nations and third world countries should get smarter, cause we have fed the west fat for too long via the world bank. Avoid the IMF and world bank for your long term good. It's a neo-colonial instrument to control the economies of third world countries, and it's deliberately meant to keep third world countries dependent on more and more loan.

African nations, please look inward!!. Look for other alternatives. We can do without the IMF and world bank.

adconline:
Stop being willfully ignorant! GMB and co first asked IMF for a loan.. IMF is a bank and doesn't go around begging people to come and take loan.
How many times does ur bank beg u to come and take loan??
Nobody forced African rulers to take IMF loans and then stashed those funds in offshore accounts

allexy2:
The world bank and IMF are a fraud.they serve the intrest of western countries by putting third world countries into debt.

As you can see they are praising this so for nothing minister of petroleum, nigerian need to watch out for him because when u see a white man praise a black man, it is a sign that the black man is serving the intrest of whitean

SamuelAnyawu:
Reforms without sufficient fuel for the masses?
Good morning Nairalanders, Have you blamed GEJ today?

musicwriter:
I wish you've kept a reasonable sum of money in a bank, then you've known how banks function.

SamuelAnyawu:
Reforms without sufficient fuel for the masses?
Good morning Nairalanders, Have you blamed GEJ today?