NNPC GMD Encourages Investors To Establish Refinery In Akwa Ibom

France To Invest Over €1bn In Nigeria's Oil, Gas Sector - NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC)  Mr Maikanti Baru says the oil company has engaged investors to establish a refinery in Akwa Ibom State.

The Group Managing Director of the NNPC, Mr Maikanti Baru said this in Akwa-Ibom during the Petroleum and Natural Gas Senior Staff Association of Nigeria’s, PENGASSAN, Triennial Retreat amd Synergy workshop.

Baru said Akwa-Ibom state is well-positioned geographically to have a refinery.

“The investors have been coming to us and I have seen one that is quite promising. It is in this light that I encouraged these investors to come and see the state government and discuss,” he said.

He called on the Akwa Ibom State Government to explore partnership opportunities provided by the investors towards establishing the refinery in the state.

READ ALSO: NNPC Scandal: I Approved Two Joint Venture Financing, Says Osinbajo

Baru further called on industry players to brace up for change in the sector. He said with the current state of the international energy market, there is the urgent need to rehabilitate the nation’s refineries as well as the Petroleum Industry (Governance) Bill currently being considered by the National Assembly.

He also appreciated the support given by PENGASSAN and NUPENG towards the growth and industrial peace in the NNPC.

“I would like to appreciate the support given to us by the two unions, PENGASSAN and NUPENG. You have over the years exhibited the high level of maturity and partnership. This is evident in your pragmatic approach to issues.

“This is evident in your pragmatic approach to issues. As well as strategic engagement with industry stakeholders which has not only guaranteed industrial peace and harmony but has also ensured the stable supply of petroleum products across the country,”

 

$26bn Fraud Allegations: Party Seeks Kachikwu’s Resignation, NNPC GMD’s Suspension

Minister of State for Petroleum Resources, Dr Ibe Kachikwu, and NNPC Group Managing Director, Dr Maikanti Baru

More reactions have continued to trail the recent letter written by the Minister of State for Petroleum Dr Ibe Kackiwku to President Muhammadu Buhari.

Kackiwku in the letter alleged that the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Maikanti Baru awarded contracts amounting to $26 billion without following due process.

The national secretary of the Action Democratic Party (ADP), James Okoroma speaking in Abuja, called on the Kackiwku to resign his appointment due to the alleged rot in a parastatal under his supervision.

The party is also calling on President Buhari to suspend Baru for alleged violation of the public procurement act, 2007.

READ ALSO: Kachikwu Keeps Mum After Meeting With Buhari

The National Secretary of the party, James Okoroma said, “In view of the seriousness of the allegations made by the Minister and the dangers they pose to the economy and image of our nation, we demand the image suspension of the NNPC GMD to enable investigations to commence.

“The Minister of State for Petroleum, Dr Ibe Kackiwku should come out bold and resign his appointment having become a stranger in president Buhari’s cabinet.”

The group also called for the reversal of the all the decisions taken so far by the NNPC GMD which the group claimed are in breach of the public procurement act.

PDP Calls For Suspension Of NNPC Boss

BREAKING: PDP Calls For Suspension Of NNPC Boss
File photo: Maikanti Baru

The Peoples Democratic Party (PDP) has called for the immediate suspension of the Group Managing Director of the Nigeria Petroleum Corporation Company (NNPC), Mr Maikanti Baru.

This comes amid allegations of corruption running into billions of dollars levelled against him by the Minister of State for Petroleum Resources, Dr Ibe Kachikwu.

Kachikwu had, in a letter addressed to President Muhammadu Buhari, accused Baru of insubordination and practices that could jeopardise government’s policies aimed at repositioning the petroleum industry.

PDP National Publicity Secretary, Dayo Adeyeye, at a press conference on Thursday in Abuja, expressed shock at the accusations and called for the immediate suspension of the NNPC boss.

The party also asked President Buhari to ensure the allegations were “genuinely” investigated “as a show of his impartiality in the war against corruption.”

According to them, the suspension would ensure that proper investigation was carried out by the relevant anti-corruption agencies.

“He (Buhari) should do this to correct the open impression Nigerians have about his so-called anti-corruption war; that it’s just a tool of persecution of perceived enemies.

“We view the allegations levelled against Baru by Kachikwu as too grave to be swept under the carpet and we insist that the NNPC GMD must be treated like an accused who should not have the opportunity to influence the investigation into his alleged misdeeds,” the party said.

 

Government To Build New Refineries, Says NNPC Boss

kachikwu-nnpcThe Nigerian National Petroleum Corporation (NNPC),  says there is no plan by the present administration to kill the corporation, but that “the government is making plans to fix the existing refineries and thereafter, build new ones” to compliment the existing ones across the oil-rich nation.

The Group Managing Director (GMD) of the NNPC, Dr. Ibe Kachikwu, explained that rather than selling the existing refineries, the government would embrace the option of increasing their capacity through massive turn around maintenance.

Dr. Kachikwu made the disclosure to reporters on Wednesday during a visit to the Kaduna Refinery in Chikun Local Government Area of Kaduna State.

He was accompanied by the Managing Director of the refinery, Mr Saidu Mohammed and some top officials of the corporation.

The NNPC boss said that the Kaduna Refinery, which currently produces at 60 per cent capacity, would soon hit full capacity production at the end of the rehabilitation exercise currently going on at the company.

“Kaduna Refinery is key to the sustenance of the nation’s economy, by the time it starts producing at full capacity,” he said.

The GMD explained that the target of the NNPC was to ensure that all the nation’s refineries would begin to refine petroleum products, with operation at full capacity.

He further assured Nigerians that efforts were in top gear to fix all the crude and petroleum products pipelines across the country, adding that the military would be engaged to provide land and aerial surveillance of the pipelines.

Dr. Kachikwu also told reporters that some of the cancelled oil swaps would be replaced with new deals.

On Tuesday, the NNPC boss sought the military’s support in the surveillance of pipelines to end crude oil theft that had led to loss of huge revenue in a period of dwindling crude oil price.

Warri Refinery Gets 90-Day Ultimatum To Resume Full Production

Emmanuel-Ibe-Kachikwu-warriThe Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu has given the management of Warri Refineries and Petrochemicals 90 days to resume full production.

The GMD told Journalists on Thursday after a facility tour of Warri refinery that the establishment must produce 125,000 barrels of crude oil per day, on or before 60 days from now.

The GMD explained that he is ready to provide the management with the facilities to work, but they must fast-track the production process.

According to him, “whatever you need to do to get your refinery back on track, please do it now because this is the time”.

“It’s a 90 days fast-track programme. And whatever you need me to do to make that happen, let me know,” Kachikwu said.

The Warri refinery was commissioned in 1978.

The NNPC boss had earlier expressed optimism that fuel importation will reduce, with the commencement of production at the Port Harcourt refinery

Reps Demand Full PWC Report On NNPC Missing $20Billion

nnpcThe House of Representatives have asked the Presidency to tender the full report of the forensic audit conducted by PriceWaterhouseCoopers  PWC on the alleged missing $20 billion from the Nigeria National Petroleum Corporation (NNPC).

A motion raised by Femi Gbajabiamila said that more than eight months after the Federal Government engaged the international audit firm, and over two weeks after formal presentation of the forensic report, the Federal Government was yet to make the findings known.

The minority leader of the House said that such a matter that has generated so much public outcry ought not to be ignored, saying tendering the report before the House would allow the situation be put in proper perspective.

The Group Managing Director, GMD, of the NNPC, Joseph Dawha, had said earlier that the investigations carried out by PricewaterhouseCoopers PWC over the alleged missing $20 billion oil money, did not indict the corporation in anyway.

Mr. Dawha also said the report “has clearly vindicated our long held position that the alleged unremitted crude oil revenue was a farce from day one”.