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Jonathan sends NNPC management packing

News » Business

Andrew Yakubu was yesterday named the new managing director of  the Nigerian National Petroleum Corporation (NNPC) after a rejuvenated president just back from Brazil, sent Austen Oniwon,  its group managing director and three other executive directors packing.

The action of government is seen as a bid to strengthen the ongoing reforms and transformation of Nigeria’s petroleum sector, and in furtherance of efforts to achieve greater transparency and accountability in government.  It comes in the wake of the recent sack by president Jonathan of the National security adviser, Andrew Owoye Azazi and minister of defence, Haliru Bello.

The NNPC has been embroiled in many controversies in recent times , including its controversial role in the N1.7 trillion oil subsidy fraud; its role in the early stages of the Petroleum Industry Bill (PIB) which is yet to see the light of day; its failure to remit crude oil revenue to the Federation Account and its general lack of transparency in its accounting system.

The statement announcing the sack of the management noted that Jonathan commended them for their service to the nation and urged the new management to cooperate fully with the new managing director.

The former Group Managing  Director, Oniwon, and Michael Arokodare (outgoing Group Executive Director (Finance and Accounts), Philip Chukwu, out-going Group Executive Director (Refineries & Petrochemicals), and Billy Agha, out-going Group Executive Director (Engineering & Technology) are to proceed on retirement.

President Jonathan has also approved the appointment of Victor Briggs as the new Managing Director of the Nigerian Petroleum Development Company (NPDC).

Yakubu, an engineer, is an indegine of Kaduna State and a fellow of the Nigerian Society of Engineers (NSE). He joined the NNPC in 1980 and has held many positions in the corporation including been managing director of Warri Refining and Petrochemicals Company, and Group Executive Director, Exploration and Production.

Other members of the new management team include: Bernard O.N. Otti – Group Executive Director (Finance and Accounts); Abiye Membere – Group Executive Director (Exploration and Production); Peter S. Nmadu – Group Executive Director (Corporate Services); Anthony Ogbuigwe – Group Executive Director (Refineries & Petrochemicals); Attahir B. Yusuf – Group Executive Director (Commercial & Investments) and David Ige – Group Executive Director (Gas & Power).

Commenting on the development last night, Oladiran Fawibe, chief executive officer of International Energy Services, said that the appointment of the new group managing director is a welcome development. He described him as very competent with good understanding of the industry.

According to Fawibe, NNPC is not the problem of the industry, but the various obstacles mounted by the federal government. He noted that unless NNPC is allowed to operate as a commercial venture, the expected reform in the industry will have no effect.

Article credit: Businessday Newspaper

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Updated 7 Years ago

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