Photo: New NNPC Boss, Dr. Ibe Kachikwu

Lagos – Stakeholders in the oil and gas sector on Monday lauded Federal Government’s initiative in appointing a private sector-based knowledge to drive the Nigerian National Petroleum Corporation (NNPC) operations.

Some of them made the commendation in separate interviews in Lagos.

President Muhammadu Buhari on Tuesday appointed Dr Emmanuel Ibe Kachikwu, the Executive Vice Chairman of ExxonMobil Africa, as the new Group Managing Director (GMD) of the NNPC.

Mr Emmanuel Iheanacho, Managing Director, Integrated Oil and Gas Limited, in his reaction, said that “it is a welcome development.

“While I congratulate him on his new appointment, I also urge him to reform the corporation and ensure it is corruption free.

“ The new man is a well-known experienced oil and gas captain of so many years; he will use his good experience to reform the corporation”.

Mr Chinedu Okoronkwo said that the era of impunity in the corporation was over, adding that the oil and gas sector would begin to experience re-birth in the hands of private sector driven person.

Okoronkwo said “that is the change the people had been clamouring for. Buhari understands the system and he is the man for the job”.

According to him, the days when a single marketer or individual will be given allocation to control the sales of oil and gas market is over.

A source at NNPC told NAN that the appointment was a welcome development, adding that Kachikwu would address the issues of corruption and dubious accounting practices in the corporation.

The source said that Kachikwu, who had been scheduled to perform a wider role in his new portfolio, was a very well respected technocrat with an impeccable record.

It said he had never held a political appointment.

The source said that the new GMD was expected to use his vast experience to restructure the NNPC, pursue creditors and recover missing funds.

He is also expected to reposition the NNPC into a world-class corporation, amongst several other tasks.

NAN reports that Kachiku is expected to take over from Joseph Dawha at the NNPC headquarters and hailed from Delta State.

He is a First Class Graduate of Law from the University of Nigeria Nsukka and the Nigerian Law School, where he was best graduand and multiple awards winner in both institutions.

Kachikwu, trained lawyer, was born and raised in Onicha Ugbo in Aniocha North Local Government Area of Delta.

He also has a Masters and Doctorate Degree in Law from Harvard Law School USA, with distinctions.

A former investment attorney in the United States, the publisher of several magazine titles, he has also taught law at Harvard, Nigerian Law School and several globally acclaimed institutions.

He has three published law books in Investment Law and Contracts and numerous articles in various Journals.

In his capacity as the Vice Chairman and General Counsel of ExxonMobil, he oversees the compliance programmes of the company and advises on issues related to adherence with compliance regulations and anti-corruption laws in Africa.

Before he joined Mobil, Kachikwu worked as General Counsel of Texaco Upstream and Downstream in Nigeria.

NAN recalls that the former GMD, NNPC, Dr Joseph Dawha took over the leadership from Mr Andrew Laah Yakubu in Aug. 2014.

Before his appointment as GMD, Dawha was the Group Executive Director for Exploration and Production of the NNPC.

He was saddled with the responsibility of repositioning and setting strategic direction for the upstream exploration and production activities of the NNPC.

Dawha joined the services of the NNPC in 1988 and rose to the rank of Executive Director, Commercial Services, Eleme Petrochemical Company Limited (now Indorama) Port Harcourt in 2003.

Hw was later appointed the Managing Director of Integrated Data Services Limited Benin in 2005. (NAN)

Via Vanguard