President Muhammadu Buhari appointed a new head of the Nigerian National Petroleum Corporation on Tuesday, August 4.
Dr. Emmanuel Ibe Kachikwu, the Executive Vice Chairman/General Counsel of ExxonMobil (Africa), was appointed by the President as Group Managing Director of the NNPC.
While giving him the mandate, President Buhari gave Kachikwu, six terms of reference to make top priority as he seeks to restructure the organisation.
They are;
1. Clean up the NNPC system of corrupt elements;
2. Recover all stolen crude oil funds;
3. Work with the Economic and Financial Crimes Commission (EFCC) and the Directorate of State Service (DSS) to trace and recover stolen oil cash;
4. Review the structure of the NNPC to compete globally;
5. Giving targets to all subsidiaries and put in place performance benchmarks; and
6. Fix all refineries, which must work at optimal level, “even if it means using expatriates in the interim”.
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