NNPC Set To Globalize Recruitment May Employ Expatriates

Dr. Emmanuel Ibe Kachikwu, who acts as both the Minister of State for Petroleum and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has said that has part of the ongoing restructuring exercise for efficiency and profitability that expatriates would be recruited by the NNPC, This Day Reports.

In an exclusive interview, Kachikwu told THISDAY that the corporation’s restructuring agenda is only 25 percent complete, adding that 75 percent is yet to be completed. 

Although there is always this sentiment that Nigerians should be in charge of NNPC, Kachikwu stated that the oil and gas industry was not where nationals just take charge alone, stressing that “it is an international business that requires international global best practice.”

Kachikwu stressed that there are certain positions in the NNPC that requires the services of expatriates in spite of the yearning desires for Nigerians to be in charge, adding that currently there are no expatriates in the NNPC’s workforce. In as much as the salary structure of the NNPC would not be able to accommodate expatriates in its workforce but added that he would not mind going outside the system to pay them.

NNPC Eleven Months Loses Amounts To N255.28bn

The Nigerian National Petroleum Corporation (NNPC) has recorded a total loss of N255.28bn, from January to November 2015 as against N240.98bn which it recorded from January to October in the same year, The Punch reports.

From the analysis of the corporation’s financial report for October and November 2015 showed a difference of N14.3bn between the two months. The NNPC has also made dollar payments amounting to $607.8m to the Federal Accounts and Allocation Committee from January to November 2015 as seen from her latest financial report.

For the Naira payments to the Federal Government, the corporation said, “The sum of N933.1bn for domestic crude oil and gas and other receipts was paid to the Federation Account from January to November 2015.”

On the performance of refineries, Warri Refining and Petrochemical Company, Port Harcourt Refining Company and Kaduna Refining and Petrochemical Company the report stated that the total crude processed by the three facilities for the month of November 2015 was zero.

FG Sets Aside N108bn To Clear 2015 Subsidy Payments For Oil Marketers

According to reports by Leadership, the FG has set aside the sum of N108 billion to completely offset subsidy payments for the year 2015 to oil marketers.

While announcing the new pump price of petrol in Abuja recently, Farouk Ahmed, Executive secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), disclosed that   the money is meant to clear payment for October, November and December 2015.

The total sum of N407 billion was paid by the FG as subsidy claims to oil marketers up to September 2015, Kemi Adeosun said that payments also included outstanding arrears from the 2014 financial year as well as payments for 2015.

It would be recalled that the government recently paid an outstanding N407 billion subsidy claims to oil marketers which covered payments up to September, 2015. Minister of Finance, Kemi Adeosun, said the payments included arrears from the 2014 financial year as well as payments for 2015.

Meanwhile Ahmed said the PPPRA has completed verification of marketer’s documents for the months of October and November, which would be sent to the Debt Management Office (DMO) before finally being handled by the ministry of finance.

The managing director of the Pipelines and Products Marketing Company (PPMC) Esther Nnamdi-Ogbue, has also disclosed that the agency will effect from this month, begin real time tracking of products distribution with a view to check diversion and artificially induced scarcity.

General Electric To Commence Gas Turbines Production In 2018

The CEO of GE Nigeria, Lazarus Angbazo has disclosed that the company would effectively commence the manufacturing of gas turbines, compressors and pumps, as well as other heavy duty equipment by the first quarter of 2018, Daily Trust reports.

During the visit of the US Ambassador to Nigeria, James Entwistle who inspected the plant at the Calabar Free Trade Zone (CFTZ) and informed that that the investment which is one of GE’s largest in Sub-Saharan Africa, over the next five years, was aimed at strengthening GE’s local presence in Nigeria, thereby enabling them to create more direct and indirect jobs and technology transfer in country.

Angbazo is also the president of American Business Council in Nigeria further added that GE would further inject another $250 million to make Nigeria a regional hub for GE products and services, including equipment for oil and gas exploration.

The ground breaking ceremony for the Calabar plant which is a $1 billion investment facility was performed in 2013 by the immediate past vice president, Architect Namadi Sambo.