Nigerian National Petroleum Corporation NNPC sets to metamorphose, to get new Group Managing Director...

Two things have made President Buhari stand out in the last few days, firstly his penchant for keeping vital information to his chest. This ability to keep everyone guessing , even top party chieftains wake up to read some of his decisions in the newspapers. That is certainly everybody's President who does'nt belong to anybody. Secondly, this man sticks to his decisions without wavering no matter whose horse is gored.Simple body language tells you that , in Yoruba we have a name for him" mi o gbo, mi o gba" translates to a stubborn person. These traits have gone a long way in shaping things in the last few months. For a President who remained calm in picking his cabinet, i must confess we look set to have the engine of this economy roaring back to life.
Dr. Ibe Kaichukwu, the Group Managing Director of the Nigerian National Petroleum Corporation must have also really impressed the President and earned his trust as he is now been penciled for Minister of State for Petroleum while the President remains the main man at the Petroleum ministry. This is a strong signal of what is to come. Perhaps, we are preparing for the evolution of the NNPC into a Petrobras,Saudi Aramco or Petronas. This strategic elevation also has created a vacancy, which a replacement is yet to be announced as Group Managing Director of the NNPC.Dr Kaichukwu had earlier  said the refineries are being fixed towards a December target date, but as of now only the Port Harcourt  refinery looks anything near 60 percent finished, the minimum level for it to be functional and profitable otherwise they would be recomended for sale. While i support the sale to enable market forces work it out and stamp out once and for all the expensive, corrupt subsidy scheme it would be fool hardy of the government to leave this strategic national assets in the hands of "Oligarchs". This is similar to what happened in Russia after President Nicholav Gobarchev was given a second term by a coalition of vested interests, who include Billionaire and one time richest man in Russia at age 32, Mikail Khordokovsky (Putin jailed him for a decade,seen as a threat) who owned Russia's biggest oil company Yukos and has had consequences even up till today. The Petroleum Industry bill, is a very vital document which needs to be sorted out quickly by first discarding of whatever was passed in the last administration as a farce, and working out a truly Nigerian friendly document that ensures transfer of technology to local companies, proper computations of royalties, Review of various agreements like the Joint venture, Production sharing contracts etc. I clearly have no doubt in my mind as to the competence of this team, the building block have already shown that this new edifice stands on a solid rock.