• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

NNPC’s TKO: Four options available to Emmanuel Ibe Kachikwu

Onome Ohwovoriole by Onome Ohwovoriole
October 9, 2017
in Business News
NNPC’s TKO: Four options available to Emmanuel Ibe Kachikwu
Share on FacebookShare on TwitterShare on Linkedin

In a statement posted today on its website, the Nigerian National Petroleum Corporation (NNPC) replied allegations contained in a leaked memo by the Minister of State for Petroleum Ibe Kachikwu. The corporation called the allegations baseless as the NNPC tender board and not the NNPC board were responsible for award of contracts.

The NNPC also stated that apart from the AKK project and NPDC production service contracts, all the other transactions mentioned in the memo were not procurement contracts. The NPDC production service contracts have undergone due process, while the AKK contract had not reached the stage of contract award.

Nairametrics sampled opinions from analysts familiar with the petroleum industry and these were their recommendations on what should be the next step by Kachikwu

RelatedStories

Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030 

Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030 

April 18, 2025
NNPC’s New Board and CBN’s Reserve Truth | Drinks and Mics

NNPC’s New Board and CBN’s Reserve Truth | Drinks and Mics

April 5, 2025

Resign

The NNPC in its reply to the allegations called them baseless. This suggests that the relationship between both parties is almost irreparable. The rebuttal by the NNPC questions the ability of Kachikwu to exercise any authority over it as Minister of Petroleum, and essentially renders him a lame duck minister. Unions in the petroleum industry have already paid the NNPC GMD a solidarity visit.

Stay on and fight on

Kachikwu should remain in office and call a board meeting requesting an independent review of the actions taken by the NNPC GMD. Remaining in office will also enable him support the on going probe by the Senate into the matter. Resigning might expose him to ridicule, and put the reforms started by him on hold. While President Muhammadu Buhari doubles as the Minister of Petroleum,   he has been weighed down by ill health, and the reforms in the industry have largely been driven by Kachikwu

Play the cabal card and allege blackmail

Kachikwu can also stay on board and blame the disagreements between him and the GMD on the cabal in the petroleum industry. Several operators in the industry have alleged that a cabal had prevented essential reforms from taking place. Attempts to privatize the nation’s refineries as well as pass the Petroleum Industry Bill (PIB) were resisted by the cabal, which fears the status quo in the NNPC could change.

Apologize

Kachikwu can apologize to the GMD and blame the memo on miscommunication between both parties, as well as the ambiguous nature of the law setting up the NNPC. This is unlikely to happen given that the NNPC GMD is his subordinate. Apologizing could also affect his relationship with the Senate going forward.

Conclusion

Kachikwu may very well decide to sit tight, and hope the storm blows away. The President could carry out a cabinet reshuffle and place him in another ministry. Removing Kachikwu from office, could spark off militant attacks as the differences between himself and Baru has begun to take an ethnic colouration.  Then Minister of Finance, Ngozi Okonjo Iweala was moved to the Ministry of Foreign Affairs at the twilight of Obasanjo’s regime.

 


Follow us for Breaking News and Market Intelligence.
Tags: Dr. Ibe Kachikwukachikwu's letterNNPCQuickTakes
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030 
Energy

Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030 

April 18, 2025
NNPC’s New Board and CBN’s Reserve Truth | Drinks and Mics
Digital Media

NNPC’s New Board and CBN’s Reserve Truth | Drinks and Mics

April 5, 2025
Meet Bayo Ojulari: Former Managing Director Shell appointed CEO of NNPC
Energy

Meet Bayo Ojulari: Former Managing Director Shell appointed CEO of NNPC

April 2, 2025
Petrol price, NNPCL, PMS
Breaking News

Petrol price rises to N970 per litre at filling stations

March 30, 2025
Why fuel subsidy removal cannot wait any longer - energy expert
Business News

Marketers dismiss fuel scarcity fears, urge Nigerians to avoid panic buying 

March 26, 2025
NASENI partners Energy firm for manufacturing, distribution of CNG kits in Nigeria 
Energy

NASENI partners Energy firm for manufacturing, distribution of CNG kits in Nigeria 

March 24, 2025
Next Post
What you should know about this month’s Federal Savings Bond Auction

What you should know about this month's Federal Savings Bond Auction

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  
  • Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 
  • Court dismisses ‘scavengers, beggars’ N500 million demand against FCT Minister, Wike  

Follow us on social media:

Recent News

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
FX rate for customs import duties rises again by N37 

Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 

July 11, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics