Kachikwu’s giant strides


Since the assumption of Kachikwu Ibe as the Minister of State for Petroleum Resources in the last three years, there has been tremendous improvements in different sectors of the industry, ranging from operational strides to policy moves which have added value to the corporation.
During a recent public presentation Kachikwu harped on the need for government to halt its subsidy regime and the importation of oil products. Hear him: “If we continue to subsidize products, we will continue to struggle as a nation.”
He is not done: “The only option we have as to come out from the issue of subsidy is the liberalization of the downstream oil sectors. If we continue to subsidize products, we will continue to struggle as a nation.”
The Minister also made Nigerians to know that Nigerian’s crude oil production is expected to increase from current average of 2million barrels per day to 2.5million barrels per day by the end of 2019.
He further disclosed that the country’s crude reserves is expected to hit 40billion barrels by 2020. Investment, he said “is lacking and we are trying to build refineries, also talking to financiers. We have seen them but are yet to agree on the terms involved.” He further disclosed that hopefully, by early 2019 Nigeria will complete the financing agreement.
Boss Mustapha, Secretary to the Government of the Federation who represented President Mohammadu Buhari, in excitement attested to the fact that the ministry under Kachikwu, has recorded lots of success stories in the past three years. In Mustapha’s words, “we now have the gas policy approved in June/July 2017 and regulation for gas flaring in the country.”
He also acknowledged the challenges being faced in the industry, ranging from revenue generation, joint ventures, subsidy payment, cash oil, crude oil production, refineries rehabilitation and regulatory issues. He courageously said that the ministry through the lunch of 7Bigs wins in December 2016, has tried to tackle some the challenges and brought about stability in the sector. Mustapha congratulated the leadership of the ministry and all outstanding staff to be awarded by the ministry while assuring that Government will continue to reward excellence in public sector. 
The ministry’s permanent Secretary, Dr. Folasade Yemi-Esan attributed the three year success story to the team efforts in the ministry. She said parastatals and agencies under the supervision of the ministry have ensured the execution of approved polices in all the sectors.
The event, according to her was part of the ministry’s mandate to encourage and celebrate outstanding staff of the ministry, who had worked tirelessly to achieve successful goals for the ministry.

Spread the love

Related posts

Leave a Comment