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The World Bank has praised the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, for bringing transparency and accountability to bear on the operations of the Oil and Gas Industry in Nigeria.
The Managing Director of the Bank, Sri Mulyani Indrawati made this known when she paid an official visit to the Minister in his office in Abuja.
Indrawati said the 20 fixes introduced by Dr. Kachikwu to the NNPC business models have gone a long way to reform the Corporation for profitability.
She said the Bank is ready and available to offer the Ministry of Petroleum Resources technical support, advice and funding stressing that sound policy thrust is key in the areas of fiscal direction, gas flare out and gas to power.
In his response, Dr. Kachikwu said since assumption of duty in August last year, a lot of reforms ranging from the first phase of restructuring and the recent restructuring have served as enablers for the introduction of new business models that have drastically reduced the losses recorded by the NNPC in the past.
He urged the World Bank to offer support in the area of institutional framework and training for the Petroleum Ministry and the NNPC, adding that the training would provide the necessary skill sets that are required to grow the Oil and Gas Industry in the country.
- PM News
The Managing Director of the Bank, Sri Mulyani Indrawati made this known when she paid an official visit to the Minister in his office in Abuja.
Indrawati said the 20 fixes introduced by Dr. Kachikwu to the NNPC business models have gone a long way to reform the Corporation for profitability.
She said the Bank is ready and available to offer the Ministry of Petroleum Resources technical support, advice and funding stressing that sound policy thrust is key in the areas of fiscal direction, gas flare out and gas to power.
In his response, Dr. Kachikwu said since assumption of duty in August last year, a lot of reforms ranging from the first phase of restructuring and the recent restructuring have served as enablers for the introduction of new business models that have drastically reduced the losses recorded by the NNPC in the past.
He urged the World Bank to offer support in the area of institutional framework and training for the Petroleum Ministry and the NNPC, adding that the training would provide the necessary skill sets that are required to grow the Oil and Gas Industry in the country.
- PM News