- There are Strong indications that President Muhammadu Buhari may not be in a hurry to sell Nigeria’s three refineries.
- It was understood he may not do so because it may place the economy in the hands of the private sector and lay it open for possible exploitation which may bring hardship to poor Nigerians.
- Meanwhile, expectations are soaring that Nigeria may begin to enjoy the benefits of crude oil resources following the leadership change and restructuring at the Nigerian National Petroleum Corporation (NNPC).
- Stakeholders in the oil and gas industry are of the opinion that in order to make a remarkable impact, the new heads at the NNPC would have to vigorously pursue the Federal Government’s aspiration to transform the industry, especially the NNPC into an integrated oil and gas company by introducing policies and strategies that will improve crude oil production.
According to a source, “The thinking of this present government is to minimise waste through prudent management of resources and tame corruption. The appointment of Dr Emmanuel Kachikwu as Group Managing Director of the NNPC is meant to achieve his aim of zero tolerance for corruption in the operations of subsidiaries of the NNPC.”
Source: The Guardian