FG To Split NNPC Into 30 Different Companies

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has said that the NNPC is to be unbundled into 30 profit-making companies with separate Managing Directors in the weeks ahead as part of the ongoing transformation of the national oil company.Dr. Kachikwu made this disclosure at the 25th Oloibiri Lecture Series and Energy Forum in Abuja with the theme: “Technological Advances in Hydrocarbon Exploration and Exploitation: Solutions to Global Oil Price Stability”.
The Minister stated that the NNPC has been moved from a loss position of N160 billion to some N3 billion by January 2016, adding that by year end the Corporation should start making some profit.

“For the first time, we are unbundling the subset of the NNPC to 30 independent companies with their own Managing Directors. Titles like Group Executive Directors are going to disappear and in their place you are going to have Chief Executive Officers and they are going to take responsibilities for their titles. At the end of the day, the CEO of an upstream company must deliver an upstream result,” Dr. Kachikwu stated.

He also informed that as part of measures to stabilize crude oil prices, some members of the Organization of Petroleum Exporting Countries (OPEC) are scheduled to meet with Russia on 20th March, 2016, in Moscow to fine tune collaborative strategies.

The Minister noted that the President Muhammadu Buhari administration is focusing on developing the nation’s gas resources in order to boost revenue as part of the diversification policy of the Federal Government.
Dr. Kachikwu said the petroleum sector, under his watch, would rapidly review the contracting cycle of projects from two years to six months in the upstream, stressing that efforts are in top gear to review the existing Production Sharing Contracts which is long overdue.

The Minister applauded the National Assembly on their efforts on the Petroleum Industry Bill (PIB) which he said would go a long way to promote efficiency in the governance structure of the industry.
He noted that for the Nigerian oil and gas industry to make remarkable progress, there is need for all the stakeholders in the upstream, midstream and downstream sectors to be on the same page on cost control, contracting circle, technology and environmental issues.
He called on stakeholders to adopt integrated approach towards resolving some of the challenges of the industry in Nigeria.


In his welcome remarks, the Chairman of the Society of Petroleum Engineers (SPE), Engr. George Kalu, said the Oloibiri Lecture Series and Energy Forum of this year coincides with 60 years of oil exploration and production in Nigeria, adding that the low price of crude oil affords Nigeria the opportunity to reduce cost through industry collaboration.

Agiliti Residents In Terrified State Of Minds, As They Are Scared Of What The Hausa Can Do Over The Night

As at the time i'm reporting this, All landlords of Agiliti are scared and are all outside in Agiliti Bus stop, because of the damage done to the houses of their co-landlords whose house  were been burnt, some hausa men entered into many Agiliti Residents houses and killed alot of their families. View the cause of the fight http://naijaears.blogspot.ae/2016/03/the-cause-of-nasty-fight-that-happened.html?m=1 This is the pictures from the scene during the soldiers intervention this afternoon.

We plead with the government to please send in more men to help stabilize the area, as the hausas are ready to cause more havoc in the mid night.

See Mercy Aigbe & Cute Son As They Steps Out In Adorable Traditional Outfit

Mercy Aigbe, the pretty actress and mother of two lovely kids visits her son's school on their Yoruba day. She said being a mother is her greatest achievement till date. The young boy looks so much like his mum.

The Cause Of The Nasty Fight That Happened At Agiliti, Mile 12 Lagos Between Community Members & Hausa In Mile12.

Between last night and the early hours of this morning, there was heavy chaos at Agiliti area of Mile 12 after members of the Community and Hausa's living in Mile12 were involved in a terrible fight that caused many people their properties and lifes.

According to what I know about the incident because I live in the vicinity, Hausa okada men have been causing serious trouble lately in Agiliti, They have been injuring many of the passengers they carry, this is because they follow one way, the road is a dualised road, and they are not ready to follow the road instructions by following the normal lane.

 I can sight Two incident that happened recently that i Am aware of;

A pregnant woman was on a bike one morning, when dis small hausa okada rider who was following one way collided with the pregnant woman's bike which made her to fall, hitting her stomach very hard on the ground.

Another incident happened with a small boy who wanted to cross the road, who was hitted by a hausa okadaman following one way. I can sight many more incident which i am aware of, the most painful part is you cant rebuke any one of the one way hausa okada men if they injure anybody, this is because they come in thousands to fight.

I think this is what led to the decison Agiliti youths took by stoping all Okada ridders from coming to Agilti community. When the Hausa okada men heard of the development, they decided to fight at them which caused the serious trouble that started today.

As I'm reporting this incident, Many houses have been burnt in Agiliti, and many people killed by the hausa men, the police on ground in the morning around 10am did not take any serious action to stop the chaos.

Not Until Governor Ambode sent in more policemen and Army Men from the State to come and rescue the situation around 2.00pm. Many arrest has been made and the situation is a bit calm.