Connect with us

Business

NNPC: Buhari Set To Replace Kachikwu, Shortlists Three Northerners

Published

10 years ago

on

buhar

President Muhammadu Buhari will later this month replace the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu.
DAILY POST gathered that Buhari has already picked out three persons, including Deputy Managing Director of the Nigeria Liquefied Natural Gas (NLNG), Isa Mohammed Inuwa.
Inuwa was Group General Manager, Corporate Services in NNPC before he joined NLNG.
The race to succeed Kachikwu, former Executive Vice Chairman and General Counsel of Exxon-Mobil (Africa), began after Buhari sent his name as a ministerial nominee to the Senate.
Kachikwu, who has been cleared, is expected to emerge as the Minister of State for Petroleum Resources, a ministry Buhari has announced he will keenly supervise.
Kachikwu beat two others – Inuwa and General Manager, Total E&P Nigeria Limited, Mr. Ahmadu-Kida Musa – to emerge as NNPC GMD in August, replacing Dr. Joseph Dawha.
With the elevation of Kachikwu, Buhari has reportedly added one more name to contest with Inuwa and Musa for the top job.
The trio are all northerners. This is not unexpected as Kachikwu will be a minister of state from Delta State in Southern part of the country.
Meanwhile, the Office of the Secretary to the Government of the Federation (SGF) has been mandated to review the profiles of the three nominees and make a recommendation to the president.
Kachikwu, industry players, say has done well in his short time in office.
Part of his achievements are monthly publication of NNPC sales, public opening of bid tenders in a bid to ensure transparency, reducing the corporation’s directorates from eight to five to improve efficiency and reduce cost of running the organisation.
Two weeks ago, Kachikwu met with the President of Ghana, John Mahama in Kumasi, Ghana, to reach a deal on the outstanding debts owed Nigeria by the Volta River Authority (VRA) for gas supplied.
Source:- Daily Post

Related Topics:

Sahara weekly online is published by First Sahara weekly international. contact [email protected]

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Business

Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Published

1 day ago

on

April 7, 2026

By

Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.

The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.

Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the  Bank’s commitment to supporting institutions that drive intellectual growth and national development.

As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com

 

 

PHOTO

L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr.  Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026

Continue Reading

Business

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

Published

2 days ago

on

April 7, 2026

By

Otega Ogra: Online Misinformation Endangers Public Trust and Stability

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

The Presidency has strongly refuted allegations of “accounting fiction” and misinformation surrounding Nigeria’s ongoing power sector financial reforms.
O’tega Ogra, Senior Special Assistant to President Bola Ahmed Tinubu on Digital and New Media, took to social media to challenge comments made by Rufai Oseni, accusing the broadcaster of misrepresenting government efforts to resolve legacy debts in the electricity value chain.
At the heart of the dispute is the reconciliation of longstanding debts owed to Generation Companies (GenCos) and gas suppliers—an issue that has long constrained liquidity within Nigeria’s electricity market.
₦1.4 Trillion Reduction Explained
Responding to criticism over debt figures, Ogra clarified that total legacy obligations were reduced from ₦4.7 trillion in initial claims to a verified ₦3.3 trillion, representing a roughly 30% reduction.
“That is not spin. It is the difference between a claim and a verified obligation,” Ogra stated.
“In a regulated electricity market, submitted claims must be validated against contracts, market rules, and settlement records.”
Ogra also outlined tangible progress under the reform program, emphasizing that it has moved beyond “paper restructuring” to actual financial disbursements:
₦1.23 trillion structured under Phase I
₦501 billion already raised for the first series
₦223 billion disbursed to GenCos and gas suppliers
₦197 billion currently being processed
As of March 31, 2026, eight GenCos—covering 17 power plants—have signed settlement agreements totaling ₦2.28 trillion.
According to Ogra, the reform timeline, from President Tinubu’s July 2024 directive for a sector-wide review to Federal Executive Council approval in August 2025, demonstrates a deliberate push for transparency in a sector historically plagued by opacity.
“The real question is whether the final figure reflects verified contractual exposure. That is exactly what the review process was designed to achieve,” he said.
While defending the administration’s approach, Ogra acknowledged that clearing debts alone will not resolve Nigeria’s electricity challenges. He noted complementary reforms underway, including:
Tariff alignment based on service quality
Nationwide metering expansion
Improved payment discipline
Targeted subsidies for vulnerable citizens
In a pointed remark, he urged media commentators to distinguish between incomplete progress and misinformation:
“This is not the end of the problem, but it is a structured attempt to fix it.”
Continue Reading

Business

Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

Published

5 days ago

on

April 4, 2026

By

Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

 

In a momentous occasion that underscores the rapid infrastructural advancement of Ogun State, renowned real estate mogul and philanthropist, Aare Adetola Emmanuelking, warmly received the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, at the official commissioning of the Gateway International Airport, located in Iperu-Remo.

The landmark event, held under the visionary leadership of the Ogun State Governor, Dapo Abiodun, marks a significant stride in the state’s economic transformation agenda, positioning Ogun as a key hub for aviation, commerce, and investment in Nigeria.

Aare Emmanuelking, who is also the Chairman/CEO of Adron Homes and Properties, commended the Ogun State Government for its foresight and commitment to infrastructural excellence. He described the airport project as a “game-changer” that will not only boost connectivity but also stimulate real estate growth, tourism, and industrial expansion across the region.

Speaking during the commissioning, President Tinubu lauded Governor Abiodun’s administration for delivering a world-class facility that aligns with the Federal Government’s Renewed Hope Agenda, emphasizing the importance of strategic infrastructure in driving national development.

The Gateway International Airport is expected to serve as a critical gateway for investors and travelers, further enhancing Ogun State’s reputation as one of Nigeria’s most business-friendly environments.

The presence of top dignitaries, industry leaders, and stakeholders at the event underscores the project’s significance and its anticipated impact on the state’s socio-economic landscape and beyond.

Continue Reading

Cover Of The Week

RSS Africa-Newsroom

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

Trending