Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Emmanuel Ibe Kachikwu, has been cleared by the senate at the ongoing ministerial screening after a rigorous question and answer session.

Kachikwu- who took the podium after former Lagos state governor, Babatunde Fashola- was questioned by Senator Dino Melaye, George Akume, Danjuma Goje among others

While stating that the removal of petrol subsidy is unrealistic, Kachikwu spoke on NNPC, Petroleum Industry Bill (PIB), mismanagement of resources in the industry and Corporate Social Industry.

Here are the key things the NNPC boss said during the screening session:

• I have heard 30 years of unblemished sector in the petroleum industry.
• From offshore to onshore, we have enough products in storage to last us 40-50 days, so the fuel scarcity panic is unrealistic. We will work to reduce queues in gas stations.
• At the end of December, we will compare production of refineries and shut down whichever ones are not producing.
• Afforestation programs will gradually relieve Nigerians from Kerosene to gas. The current average performance level of our Refineries are 25 – 28%.
• Strategic reserves and sustenance of refineries will be our priority. Once we break up PIB to realistic aspects then we will begin to make progress.
• I won’t be constrained by the lack of PIB; I will continue work with the existing laws for now.
• $15billion dollars is lost a year as a result of the absence of PIB. We must privatise the downstream sector as much as we can.
• Next year, we have a programme to give free gas cylinder to every Nigerian citizen.
• We want best value and transparency in our contracts. when we cancel contracts, it’s not personal. We only source for what most benefits the country. when we withdraw contracts, it’s only because we look to achieve the best value to our investments.
• I have published my first monthly report in the industry in 6 weeks. It has not been done in 10 years. I will publish on a monthly bases an NNPC manual. I now do a weekly broadcast to all of our Staff memebers as well as a Monthly Town Hall Meeting. I will continue to have real time weekly session to update the president on happenings of the oil sector.
• I will ensure transparency, that is why we ordered PriceWaterCooper to carryout a forensic audit.
• Transparency is key in the Petroleum Industry. Speed is also very important; Time is money. We intend to have a road map in order to be consistent with our terms of engagement.

Janeth J