Business Ibe Kachikwu Formally Steps Down as NNPC GMD

[ProfRem]

Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, Friday, formally stepped down as the Group Managing Director, GMD of the Nigerian National Petroleum Corporation, NNPC, with the handing over to the new helmsman, Mr. Maikanti Baru.

Speaking during the handover in Abuja, Kachikwu promised to partner and support the new GMD, in undertaking a wholistic reform of the NNPC and the Nigerian petroleum industry and also in bridging the infrastructure deficit in the industry.



Kachikwu said over the last 11 months when he held sway at the NNPC, a number of milestones were attained, while he expressed optimism that the new GMD would surpass his achievements and take the corporation to new heights.

Some of the achievements, according to Kachikwu, included the restructuring of the NNPC, the deregulation of the downstream sector of the petroleum industry, revamping of the countries refineries and bringing the NNPC to profitability among others.

 

[curator]

and he gets removed?

 

[ProfRem]

and he gets removed?

No, promoted to Chairman of Parent/Teachers Association according to SaharaReporters from the main School Principal.

 

[LequteMan]

@curator @RemmyAlex something smells fishy. There was a rumor back in April that he's been removed and replaced with Dr. Baru. I think everything has been written down in a script somewhere. Kachikwu and the rest are merely playing out the move.

I expect NNPC to re-acquire its blackbody features.

 

[curator]

Maybe it is to give him a chance to concentrate on the whole sector and still oversee NNPC but not getting into the day to day 'dealings'

 

[ProfRem]

@curator @RemmyAlex something smells fishy. There was a rumor back in April that he's been removed and replaced with Dr. Baru. I think everything has been written down in a script somewhere. Kachikwu and the rest are merely playing out the move.

I expect NNPC to re-acquire its blackbody features.

We are watching and hope its all end in 2019. Except if there will be Part 2.