More People To Lose Their Jobs At NNPC – New boss, Ibe Kachikwu

The recently appointed Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Kachikwu, said on Thursday that more people would lose their jobs at the corporation as he implements a restructuring plan to ensure better performance and accountability.

Kachikwu said the restructuring would affect all levels of the corporation with the newly appointed group executive directors and group managing directors taking the exercise to the lower cadres.

Speaking with newsmen after a meeting with President Muhammadu Buhari in Abuja yesterday and monitored by NewsWireNGR, Kachikwu said: “Things have been done wrongly and things need to be done differently. We are doing a lot of work in terms of repositioning, restructuring, getting the right personnel in key places and setting a culture of accountability and service delivery so that the new NNPC that you are going to see will be a different institution altogether.”

Kachikwu also said there would be a proper forensic audit of the NNPC covering 2014 and 2015 to reveal the true state of the corporation.

He similarly expressed the conviction that the whole process would lead to a new look NNPC within five to six months.

He said “The NNPC is not a public service. It is a corporation and we should run it like a company generating money for the people of Nigeria. And so, that whole concept of ‘anything goes’ should stop. And this is the first stage of that whole process.”

Kachikwu said two other phases to follow have to do with the operations and business of the NNPC.

“The final stage will be the business stage, which will be looking at all the existing contracts. Are they good? Are they okay? Do they need to be re-kitted and redone?

“We will look at the PSCs. What should we do, going forward? We will look at the challenges posed by reduced balance sheet as a result of $40 or $50 per barrel oil,” he said.