Kachikwu Announces Seven Proposed Sub-Divisions

The Minister of State for Petroleum, Ibe Kachikwu, has announced the creation of seven sub divisions which the Nigeria National Oil Corporation (NNPC) will be broken into in the coming days.

Dr. Kachikwu said that the NNPC will not be unbundled into 30 subsidiaries as reported in the media, but will rather be broken into upstream, downstream, refineries, gas and power, ventures, finance and corporate services.

He said on Wednesday that five of the units would be focused purely on business ventures and profit making while two would handle service delivery.

The Minster said that the President’s approval has been secured for the final restructuring of the oil corporation.

Dr. Kachikwu, however, explained that the restructuring would not create new companies, but would break the Corporation down into specific areas of functions to move it from administrative to business focused and reduce the turnover periods of each unit.

The Petroleum Minister said that the objections raised by the Oil and Gas Union over lack of consultation, is not necessary as the process is still in the initial stage and consultations would begin when the break-down commences.

He said that seven names of top management staff of the corporation have been penned down to serve as Chief Executive Officers of the seven divisions, most of whom are currently administrative heads of departments in the Corporation.

Dr Kachikwu had said that the NNPC will be unbundled into 30 competitive revenue generating subsidiaries in the coming week.

He made the disclosure at the Oloibiri Lecture Series and Energy Forum organized by the Society of Petroleum Engineers.

It was the 25th in the series of lectures aimed at bringing key players in the oil and gas industry together to brainstorm on issues that will ensure profitability and economic advancement through oil and gas.

The House of Representatives mandated a joint committee of the House to prevent the Minister of State for Petroleum from usurping the powers of the legislature by attempting to unbundle the NNPC without legislative approval.

Olisa Metuh lost no-case submission

The National Publicity Secretary of the PDP, Mr Olisa Metuh, has lost his no-case submission filed before a Federal High Court sitting in Abuja.

Ruling on the suit on Wednesday, Justice Okon Abang, said that the prosecuting counsel, Sylvanus Tahir, has been able to establish a ‘prima facie’ case against the defendant, as there were several questions he needed to answer.

While adjourning the trial to March 17, Justice Abang added that there was an urgent need for Mr Metuh to tell the court whether he gave $2 million to the first prosecution witness to source for Naira equivalent and the source of the fund.

Consequently, lawyer to Mr Metuh, Ifedayo Adedipe (SAN), said that the defence team would take a second look at the ruling while the prosecution said that the coast was now clear for the PDP spokesman to prove his innocence.

The National Publicity Secretary of the Peoples Democratic Party (PDP), is standing trial for alleged money laundering offences preferred against him by the Economic and Financial Crimes Commission (EFCC).

With Channel TV

Ocholi’s Accident Interim Report Delivered To FEC

The Federal Executive Council (FEC) has received reports on the cause of the accident that claimed the lives of the Minister of State for Employment, James Ocholi, his wife and son on the Abuja-Kaduna expressway on Sunday, according to Channel TV.

Briefing the Council on their finding on Wednesday, the Corps Marshal of the Federal Road Safety Commission (FRSC), Mr Boboye Oyeyemi, said that beyond the burst tyres, the driver of the Minister sped excessively, his application of brakes was bad, there was no trye maintenance and he also didn’t use his seat belt.

Investigations also showed that the Minister’s driver’s licence was not found on the data base of the Road Safety Corps.

President Muhammadu Buhari, while paying tribute to the Minister, narrated his experience with the Minister, his contributions towards his emergence as President.

He described him as a humble chap that would be missed in the cabinet.

While the Minister of State for Niger Delta described Ocholi as a strong minded, lovely and fearless being, the Minister of Water Resources urged his colleagues to imbibe the lessons learnt from his death.

The Minister of State for Foreign Affairs in her tribute, described Ocholi as a family man whose exit is tragic.

The Federal Government also extended sincere condolences to the people of Kogi State and prayed that the memories he left behind would always be a legacy.

The burial has tentatively been fixed for March 16, 17 and 18.Briefing the Council on their finding on Wednesday, the Corps Marshal of the Federal Road Safety Commission (FRSC), Mr Boboye Oyeyemi, said that beyond the burst tyres, the driver of the Minister sped excessively, his application of brakes was bad, there was no trye maintenance and he also didn’t use his seat belt.

Investigations also showed that the Minister’s driver’s licence was not found on the data base of the Road Safety Corps.

President Muhammadu Buhari, while paying tribute to the Minister, narrated his experience with the Minister, his contributions towards his emergence as President.

He described him as a humble chap that would be missed in the cabinet.

While the Minister of State for Niger Delta described Ocholi as a strong minded, lovely and fearless being, the Minister of Water Resources urged his colleagues to imbibe the lessons learnt from his death.

The Minister of State for Foreign Affairs in her tribute, described Ocholi as a family man whose exit is tragic.

The Federal Government also extended sincere condolences to the people of Kogi State and prayed that the memories he left behind would always be a legacy.

The burial has tentatively been fixed for March 16, 17 and 18.