The Nation Newspaper

Tag: Minister of state

  • Buhari inaugurates new PH Int’l Airport terminal 

    After four years of spadework, President Muhammadu Buhari on Thursday inaugurated the new international terminal of Port Harcourt Airport, in Omagwa, Rivers State.

    The terminal was built by the Chinese Civil Engineering Construction Company Nigeria Limited as part of the $500 million concessional loan from the Export – Import Bank of China.

    Buhari landed about 12.30 pm and was driven in a convoy to the location of the new terminal.

    Speaking at the ceremony Buhari said the Port Harcourt International Airport terminal will play a significant role in promoting economic prosperity of Rivers State.

    He said the new terminal will increase passenger growth as well as facilitate the movement of cargo.

    He said the facility will bring the airport to international standard to create economic growth for Rivers State as well as the country.

    He said the concession of four international airport terminals in Lagos, Abuja, Kano and Port Harcourt will improve infrastructure in Nigeria.

    He said the construction of new terminals will be linked to the Warri Rail Line.

    Buhari said government is making deliberate efforts to increase handling capacities and infrastructure of the nation’s transport sector which was not taken care of since the 70s and 80s when they were built.

    He said it was part of his promises to upgrade Nigeria’s transport infrastructure in all geo political zones of the country.

    The president said:” Today’s commissioning is a significant landmark for international travellers especially those in the South South region.

    “Not much was done after these airports were built in the 70s and 80s to increase handling capacity of the airports and so we needed to take decisive steps to ensure that our terminals meet the minimum international global standards.

    “In the 2017 budget, I promised to upgrade Nigeria’s transport and complete a number projects that will be beneficiary to the nation economically and these include construction of new terminals, railways and power projects.

    “Today’s commissioning is a direct policy to sustain economic growth in all geo political zones of the country,” the president said.

    In his remarks, Minister of State, Aviation, Hadi Sirika said the project commenced in 2014 and was inherited from the previous administration at 30 per cent completion in 2015.

    He said despite the inherent challenges associated with the project, Buhari gave approval for the lapses to be corrected.

    He listed the challenges to include: inadequate power supply, litigation, lack of apron space which have been addressed.

    Speaking earlier, Rivers state Governor, Nyesom Wike assured the president that the people of Rivers State and indeed the South South are happy with the project stating that it would foster further investment in the state.

    Wike said; “I can tell you this today that the people of Rivers State and the Niger Delta are happy with you Mr. President. This terminal here will help the drive of the state to grow the economy and it will attract investment to the state. What has happened here shows that Rivers State is safe, Rivers State is secured and if it was not CCECC will not have been here to construct this.”

     

  • Modern farming, key to food sufficiency, says Lokpobiri

    The only way Nigeria can attain self-sufficiency in food production is for  farmers to embrace modern farming,  Minister of State, Federal Ministry of Agriculture, Senator Heineken Lokpobiri has said.

    The minister regretted that the gap in domestic food production have existed in Nigeria for many years because, it depended on rural farmers and their rural farming methods for its food needs.

    Lokpobiri however, expressed delight that the Federal Government had been redressing the situation through policies and infrastructural development of the rural communities.

    According to the minister, “The only way we can feed ourselves is for us to develop our capacity, embrace modern farming technology and technics so that we will continue to enjoy high productivity, not the subsistent farming we are used to.”

    Speaking when he received a delegation from the Africa-Asia Rural Development Organisation (AARDO) led by Secretary-General of the Organisation, Wassfi Hassan El Sreihin in his office in Abuja, Lokpobiri stressed the need for the development of the  rural areas to stem urban migration.

    He noted that if urban migration was halted, it would reduce poverty and crime, as well as limit the pressure on the amenities in the urban areas being experienced in the country.

    Lokpobiri said: ”Nigeria is a country where we are basically being fed by the rural dwellers,” noting: “If rural development is not given priority, and already studies have shown that there is urban migration because of lack of development in the rural areas, the cities would soon be over crowded.”

    Continuing he said: “Land to farm is in the rural areas and if those people in the rural areas are empowered through capacity building, through technology transfer to be able to stay there and continue to cultivate in agriculture, poverty would be reduced, there will be less crime, and there will be less pressure on the limited amenities that we find in the urban areas.’’

    According to the minister, the only difference between the agricultural system in Africa and those of the advanced economies of the world is the use and deployment of technologically advanced equipment by the later.

    While drawing comparism between the Nigeria climate and that of the Latin American countries, which he noted are basically the same, the minister regretted that, “Because sometimes we don’t want to be relevant in technics, the yield over there could be 20 tons while here it could be 2 tons. This is basically because of the way we plan and the way we manage our cropping system.”

    In his remarks, Permanent Secretary of the ministry, Dr. Burka Hassan noted that Nigeria is at the verge of transiting from subsistent agriculture to sustainable agro economy.

    According to him, Nigeria is  striving to diversify from oil-based based economy to an agric-based one through emphasis on technology and modernisation of farming.

    The AARDO SG pledged his organisation’s commitment to collaborating with the nation’s rural farmers to grow the sector because of Nigeria’s strategic position in Africa and the West African region.

    He said: “We assure you that we will offer our assistance to the country. This is my first official visit to Nigeria since I took over as the Sec Gen in 2011. As you know Nigeria is a very important country in this region and the world. Since then we have been collaborating and enhancing the lives of the rural people of Nigeria, neighbouring countries and members of the organisation.

    “Since 1999 when Nigeria became a member of the organisation, Nigeria has benefited from our technical work programme, including the human capacity building. AARDO offers many hundreds of training programmes and fellowships every year in different countries in Asia and Africa which officials from Nigeria benefits from.”

    According to Sreihin, “In 2007, we financed one project in Nigeria. In 2006, we signed an MoU with the Agriculture and Rural Management Training Institute (ARMTI) , Ilorin for collaboration and assistance for international training programmes were organised and I am here to revive the MoU for the benefit of our members.”

  • How paucity of funds stifled revitalisation of textile industry

    The Minister of State, Industry, Trade and Investment, Hajia Aisha Abubakar has decried the low production capacity of all the cotton producing companies in the country despite the different reforms initiated.

    The minister, who disclosed this during a media chat in Abuja, stated that the current administration at inception was determined to revitalise the textile industries as part of its campaign promises by visiting the different textile factories in Lagos, Zaria, Kaduna and Kano.

    However, she lamented that the ministry discovered abysmal level of growth with regards to production capacity. “The significance of the textile industry and its impact on the collapse on the nation’s economy is best illustrated by the fact that, at its height, the sector had created over 800,000 jobs, representing 25% of the total number of jobs in the manufacturing sector, second only to the government in the employment of labor. Also, there were 175 textile mills in the country during its golden era, (i.e. 1985 – 1991) out of which today, all but 27 of them have since gone under. In an attempt to understand the sector and the many challenges it faced, we traversed, held exhibitions, and had several but endless meetings.  We even met and held extensive talks or rubbing of minds with a broad spectrum of members and leadership of the textile labour union.”

    She stressed that other impediments hindering greater speed in the actualisation of the President Muhammadu Buhari’s blue print of action in the textile sector include the troubling phenomena of counterfeiting and smuggled textile materials especially from China.

  • Buhari directs release of fund for Ogoni clean up

    …FG to get blue print on Niger Delta development 

     

    President Muhammadu Buhari has directed that the Nigerian National Petroleum Corporation (NNPC) and oil companies release fund within a very short period for the clean-up of Ogoni community.

    The Minister of State, Petroleum Resources, Dr. Emmanuel Ibe Kachukwu made this disclosure Wednesday in the first part of an 8-Part Series Podcast that focuses on the Niger Delta and security. 

    He insisted that the president is committed to the success of the Ogoni clean up, noting that his ministry was working with the Ministry of Environment to continue the exercise. 

    His words: “The president is completely committed to the success of this. And we are working with the Ministry of Environment to continue the Ogoni clean up. The President has just directed that funds necessary for this must be released within a very short period of time so that this Ogoni clean up can actually move from the drawing board to actual practical reality. In fact, both the oil companies and NNPC to fund this sufficiently for us to move forward.”

    The minister added that the ministry has commenced a Programme to engage Ogoni in order to secure the community buy-in and participation when there is any problem. 

    The plan to make communities have faith in the government, according to him, is not restricted to Ogoni.

    Read Also:‘Ogoni people’ll never allow resumption of oil production, without broad discussion’

    Continuing, Kachikwu said that government is currently working on a framework for a community based participation in oil and gas pipelines and oil and gas assets. 

    Following the realization from inter-agencies researches that challenges were still lingering in the Niger Delta even as over $40billion had been spent in the region in 15 years, the ministry is working with the Office of the Vice President, the Ministry of Niger Delta, Niger Delta Development Commission and the corporation to do more of capacity building and economic empowerment, he said. 

    He said that from the reports, the ministry has seen the past expenditure and what is still available in the states of the region. 

    The minister said that he has set up technical committees in Edo, Delta and Imo States that are working with the governors as the chairmen to look at the volume of oil available and produced in the states, the opportunities, economic empowerment and the burning issues in the states.

    The committee, which has oil companies, the ministry and government agencies as members according to him, will also carry out the assessment in other oil producing states in order to develop a blueprint for engagement and intervention in the region. 

    He said that “If we succeed in doing that, for the first time, what we are going to have is a complete blueprint, complete local engagement, complete intervention and supervision of the Niger Delta Development module. And that is something that can be sustained for posterity.”

    The minister said that the ministry has approved the establishment of 10 modular refineries out of which two have begun construction. Kachikwu said that the two that sited in Kwale, Delta State and Ogbere , Rivers State will start yielding results within one year. 

  • Osinbajo tasks Judiciary on prompt determination of cases

    Osinbajo tasks Judiciary on prompt determination of cases

    The Acting President, Professor Yemi Osibanjo (SAN) has challenged the Judiciary to evolve ways of ensuring prompt determination of cases by courts in the country.

    He regretted the current practice where it takes years to determine simple cases, a development, he said, accounts for the “crawling” judicial process in the country.

    Osibanjo spoke in Abuja Monday at the opening session of the 3rd annual judges workshop on petroleum, gas and power sectors, held the National Judicial Institute (NJI).

    Represented by the Minister of State, Petroleum Resources, Ibe Kachikwu, Osinbajo noted that the pace at which cases were determined in the nation’s courts was a disincentive to investors.

    He said: “We need to evolve measures that will speed up the judicial decisions. We also need these decisions not to be too complicated for investors to easily understand

    “We need to ensure sanctity of international arbitration. Also, judges should be trained in petroleum and energy sector so that they would to be fully equipped to handle the emerging trends in the sectors.

    “if the country is not positioned to supply the necessary power supply, which is essential for driving the economy, the country will not make much progress,” Osinbajo said.

    The Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, who declared the event opened, urged judges not to allow technicalities to stand in the way of justice.

    He said the workshop was to enhance judges’ knowledge on issues relating power and petroleum sectors.

    He urged judges to desist from taking cases arising from contract breach where parties to the contract failed to first explore the arbitration clause enshrined in such contract.

    He said: “It has come to my notice that some courts assume jurisdiction in matters of breach of contract arising from contracts with arbitration cases.

    “It goes without saying that no investor, whether domestic or international would want his investment tied down in seemingly endless litigation, especially where there is an arbitration clause in the contract.

    “In such cases the use of arbitration must be employed. The courts must insist on enforcement of the arbitration clause by declining jurisdiction and award substantial costs against parties engaged in the practice.

    “May I draw the attention of heads of courts that the time saving nature of an arbitration proceeding encourages heightened commercial and economic activities as well as foreign investment and therefore needs the support and encouragement of the judiciary,” Onnoghen said.

    He argued that incidents of conflicting judgments by trial courts cannot be eliminated.

    Onnoghen said: “Conflicting decisions unfortunately, are necessary, because when you approach a court in Lagos, your facts are stated and the facts of that case are also different in a court in Port Harcourt.

    “So, the judge takes a decision based on the facts before him and the law, and that is why we have the Court of Appeal who will look at the law and decide,” the CJN said.

     

  • Nigeria ranked 152 in global human development index – UNDP report

    Nigeria ranked 152 in global human development index – UNDP report

    …says country records 13.1% improvement in last ten years

    Nigeria has been ranked 152 amongst the 193 United Nations (UN) member states in the latest Human Development Index (HDI) for 2016 released by the United Nations Development Programme (UNDP).

    The country is followed closely by Cameroon in number 153 and Zimbabwe in 154 position.

    The report places Nigeria below neighbouring Ghana which is placed 139, Gabon, 109, Zambia also in 139, Equitoria Guinea, 135.

    The report however showed a positive outlook for the country as it revealed 13.1 % increase in human development in the last ten years under review (2005-15).

    NDI indicates the number of people with access to education and other basic amenities. Human development is about enlarging freedoms so that all human beings can pursue choices that they value. HDI is a composite statistic of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development
    The global report was officially launched on 25th, March 2017 in Stocklom, while the Nigeria version was launched Tuesday.

    According to the report, Norway tops the log as the number one country in the Hunan Development Index and it’s closely followed by Switzerland and Australia which came joint second, Germany on the fourth position and Denmark number five.

    Speaking at the public presentation of the Report in Abuja yesterday, UNDP Resident Representative, Mr Edward Kallon, called for an urgent action by the government to sustain the gain.

    “The report shows that between 2005 and 2015, Nigeria’s HDI increased from 0.466 to 0.527 – a 13.1 percent increase.

    “This is encouraging, but given the humanitarian challenges already alluded to, and the economic recession witnessed in 2016, there is an urgent need to design policies and programmes to ensure that the upward trend in human development is not reversed.

    “As the 2014 HDR aptly noted success is not automatic and gains are not necessarily permanent,” he said
    He noted that the Economic Recovery and Growth Plan (ERGP) recently launched by the Federal Government outlined several medium-term policies and programmes that could keep Nigeria on a positive development trajectory.

    He said that the ERGP focused on restoring growth, investing in people and building a globally competitive economy.

    Kallon pledged the UNDP commitment to supporting both the Federal and State Governments in implementing programmes addressing the simultaneous eradication of poverty and signi ficant reduction of inequalities and exclusion in Nigeria.

    He described UNDP as the UN’s lead agency with a mandate to eradicate poverty, and promote sustainable human development everywhere in Nigeria.

    According to him UNDP has produced several National HDRs focusing on various issues defining development in Africa’s largest economy.

    He said that the reports would continue to shape policy interventions and public debate around many development issues affecting millions of people in the country.

    “The economic growth is necessary but not sufficient condition for human development; it is possible to achieve high levels of human development even with modest levels of growth.

    “What matters is the source and spread of growth; and how growth is managed and distributed for the benefit of everyone,” he said.

    He said that addressing the twin problems of economic recession and humanitarian crisis facing the country called for tough policy choices.

    “We should utilise the opportunity provided by the national launch of this report to promote policy dialogue, at both national and sub-national levels.

    “To enrich programmes aimed at implementing the ERGP and Growth Plan, the SDGs and AU’s Agenda 2063 to ensure that human development is realised for everyone and that no one is left behind,” he said.

    Minister of State, Budget and National Planning, Mrs Zainab Ahmed in her remarks said the launch of the report was timely.
    She however warned that the current humanitarian crisis in the North East is capable of reversing the gain if not properly addressed.

    She said, “The downturns in 2016 occasioned by the weak growth of investment, trade and productivity as well as the humanitarian crises are capable of infusing a reversal trend if not curtailed early.

    “​It is common knowledge today that violent extremism is the greatest threat to human improvement, especially the achievement of inclusive growth as put forward by the UNDP’s principle of Universalism. Following the Arab Spring which was initially thought of as a Mediterranean issue, violent extremism has engulfed the Lake Chad region, taking its toll on lives and property in North East Nigeria. Over 14 million people are affected with 1.8 million internally displaced persons to carter for in the three most affected States.”

    She stressed that human development could also be elusive when there is insecurity and deprivation.

    “Human Development cannot be for everyone in a situation where 14 million people are insecure and deprived,” he said.

    Mrs. Ahmed however commended President Muhammadu Buhari’ Administration for reducing the level of violence in the country.

    He noted, “the level of violence has been significantly scaled down but over 4.4 million people in the region need food, clothing and shelter. The Government of Nigeria has mobilised available resources to ameliorate the situation.

    Speaking on the report, she said it provided an independent and data-based analysis of why certain groups tend to be more disadvantaged and highlights the persistent barriers to achieving sustainable human development for all.

    She said it also came on the heels of the recently launched NERGP which she said would define the country’s economic trajectory for the next four years, by ensuring sustained, inclusive and diversified growth.

    “The Report comes as Nigeria works to actively implement programs aimed at meeting the Sustainable Development Goals, both at the Federal and State levels,” she said.

    The minister said Government was working proactively to address the current economic challenges facing the Nation, and to implement policies and programmes that promote human development.

    According to her the programmes would ensure that `no one is left behind’.

    “We will also strive to ensure that the disadvantaged communities receive the extra support they need. This includes those living in conflict affected areas, women and girls, and rural communities.

    “Government is striving to ensure that human development progress is more resilient to shocks, such as epidemics, economic challenges, conflicts.

    “This is being done through the development and implementation of sound policies and through social investment programmes,” she said

  • Reps wade into Shell’s planned relocation from Rivers

    Reps wade into Shell’s planned relocation from Rivers

    The Speaker, House of Representatives, Yakubu Dogara on Thursday called for a thorough investigation into the planned relocation of the head office of  Shell Petroleum Development Company (SPDC) from Rivers State.

    The speaker said this when he inaugurated an Ad-hoc committee mandated to investigate the planned relocation of the company.

    Represented by the Deputy Majority Whip of the House,  Pally Iriase (Edo-APC), Dogara said that improved relationship between the Federal Government and the Niger Delta region was crucial in addressing some economic challenges confronting the country.

    “This is because the Niger Delta region sits atop oil wells where much of our revenue as a nation is derived from.

    “Relocation by the SPDC is said to be based on security concerns today. This has generated outcry and agitation by the people and if we as a House do not address it, it may escalate and result to violence and insecurity,’’ Dogara said.

    The Speaker added that the onus lied on the Federal Government and the house to ensure that justice on Niger Delta region was not denied.

    He, therefore, urged the committee to come up with a report that will be fair and forestall any crisis in the Niger Delta region.

    In his welcome address, the Chairman of the Ad-hoc Committee, Rep Ishiaka Ibrahim, (Ogun-APC) said that the committee would meet with all the relevant stakeholders to address the matter.

    He said the committee would be fair to all sides.

    “We shall engage all relevant stakeholders in order to come up with report and recommendation that would stand the test of time.

    “We shall also consider all factors surrounding the conception of the decision of the SPDC’s planned relocation from Port Harcourt,’’ Ibrahim said.

    It would be recalled that the House on January 26, adopted a motion sponsored by Rep. Kingsley Chinda (Rivers-PDP), to set up an ad-hoc committee to prevail on Shell’s planned relocation from Port Harcourt.

    Chinda expressed concern that several youths were already protesting the planned relocation which will further escalate militant activities in the region.

    The youth restiveness, Chinda said, would affect the Nigerian economy that was already experiencing recession due to low crude oil output.

    The House, therefore, called on the Minister of State, Petroleum Resources, Ibe Kachikwu and the National Petroleum Investment Management Services (NPIMS) and Shell to suspend the planned relocation and allow it to intervene.

  • 2017 Budget: Reps reject Aviation Ministry’s budget defense

    2017 Budget: Reps reject Aviation Ministry’s budget defense

    Ministry of Aviation’s 2017 budget estimates is at a risk of not being considered unless a comprehensive presentation was made to the House of Representatives Committee on Aviation within 48 hours.

    This is because officials of the Ministry failed to satisfactorily defend some expenditures of the Ministry in the 2016 budget document.

    Defense of a preceding year’s budget is a condition for the consideration and adoption of the budget estimates of the current fiscal year.

    Meanwhile, Minister of State, Aviation, Hadi Sirika has disclosed that the process for the closure of the Nnamdi Azikwe International Airport, Abuja is complete, adding that Kaduna State  is also ready for the expected  human and  vehicular traffic upsurge during the period.

    At the Ministry’s budget session Thursday, Director of Finance, Akin Ijiwole failed to convince the Nkeiruka Onyejeocha-led Aviation Committee on how N407m was committed to a N700m project but had zero performance recorded in the budget document.

    In addition, while the Committee expressed concern over budget releases, budget performance and physical development, it questioned the rationale behind the completion of 22 capital projects out of 98 while 28 projects out of 32 were completed for Overhead.

    The Committee also sought explanation for the release of N25m out of N320m for Enugu Airport control tower with fiscal year running out.

    The Committee wondered if the project would not end up as another abandoned project.

    Onyejeocha said: “There is an urgent need to discuss procedures for making the aviation sector self-sustaining in line with the stance on diversification.

    “The aviation sector is of enormous importance to our nation and matters concerning expenditure and revenue projections require careful consideration to reap the benefits the sector has to offer”.

    In his response, Sirika said the decision of the government was to complete all abandoned projects, which was the reason behind the mobilisation of contractors that have abandoned several projects across the country, citing Enugu and Port Harcourt Airports

    On the closure of Abuja Airport, he said, “We have done all we can, the process for closure of the airport is compete.

    “Even on security, we have constituted a Security Committee headed by an Assistant Inspector General of Police (AIG) with high ranking military and other security agencies officers as members.

    “Their mandate is to provide maximum security on the Abuja-Kaduna road for the users of the road.

    “The government of Kaduna State is also ready for the closure by offering to repair a section of the road leading to the Kaduna Airport, in addition to enhancing the road with street lights and cleared bush.

    “The State will also construct a bye pass route for users of the airport to avoid heavy traffic within the town.

    “The government has also assured that other auxiliary services are ready with provision of restaurants and others.”

    However, when asked to break down the figure in the budget document, Director of Finance, Ijiwole failed to convince the Committee with his explanation.

    This led the Committee to warn that the consideration of the Ministry’s 2017 budget would be affected unless full information on the real percentage of project completion as well as a comprehensive and comprehensible budget estimates presentation was made to it within 48 hours.

  • S/West economy: Obanikoro, Bankole, others meet in Ibadan

    S/West economy: Obanikoro, Bankole, others meet in Ibadan

    The Former Speaker of House of Representatives, Rt Honourable Dimeji Bankole, former Minister of State for Defence, Senator Musiliu Obanikoro, were among other ‎political bigwigs from various political parties in SouthWest, on Monday met in Ibadan, Oyo State capital to discuss agenda for the economic and industrialised emancipation of the region.

    The politicians who held a meeting under a group called Yoruba Patriots’ Movement, YPM, allso included, former Minister of State, Defence, Prince Kayode Adetokunbo, former Secretary to Osun State Government, Alhaji Fatai Oyebade, former Chief of Staff to former Governor of Oyo State, Dr Saka Balogun, Professor Adesoji Adesugba and Dr Kunle Olajide.

    Others are Dr Doyin Okupe, Elder Wole Oyelese, Chief (Mrs) Funmilayo Jabaru, Professor Soji Adejumo, Prince Dotun Oyelade among others.

    Speaking to journalists, the National coordinator of the Movement, Hon Oladosu Oladipupo the meeting was not for 2019 general election but to liberate the region from its current economic hardship.

    He said, “YPM was floated to mark out agenda for the region’s economic emancipation which majorly dwell mostly on agriculture and industrialisation”.

    Oladipupo said impunity of Fulani is one of the reasons for the decision to liberate Yoruba from the bad influence of the people from the Northern Nigeria saying the idea is to be modelled after the economic principles of Obafemi Awolowo during his rule in Western regional government.

    He said the group will have another meeting where they will come up with agenda that revisit the utility function of the region’s natural resources to generate wealth.

    He added that the agenda will also seek to educate the present generation to be value oriented to make use of the orientation of the past to make the Yoruba nation thrive economically again.

  • Buhari inaugurates boards of NNPC, NCDMB,  NNRA

    Buhari inaugurates boards of NNPC, NCDMB,  NNRA

    President Muhammadu Buhari on Friday challenged members of the newly inaugurated boards in the Ministry of Petroleum Resources to ensure decency and transparency in the management of the nation’s oil industry.

    The inaugurated boards included the Nigerian National Petroleum Corporation (NNPC), Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Nuclear Regulatory Authority (NNRA).

    Buhari specifically tasked the new boards to ensure that they devise practical strategies aimed at tackling current challenges within the oil industry.

    He said the boards, which would be chaired by the Minister of State, Petroleum Resources, Dr Emmanuel Ibe Kachikwu, should advise the minister and the corporations’ management on the most effective ways for Nigeria to get value for money from its assets.

    “Oil and gas are the country’s foreign exchange earners. Therefore, the importance of these boards cannot be over emphasised. Your job should be to ensure propriety in management of these most vital national institutions

    “You should advise the Minister and the Corporations’ management on the most effective way for Nigeria to get value for money from our assets.

    “My expectations from the members of the boards is for them to ensure that NNPC charts a way to face current economic challenges.

    “This will involve a careful look at the ongoing reforms designed to steer the corporation to achieve better performance and efficiency,’’ he said.

    Buhari further stressed the need for the new NNPC board to come up with innovative ways of addressing the constraints in funding Joint Venture projects between the corporation and international oil companies as well as other investment issues.

    According to him, his administration has introduced transparency in the management of the country’s oil industry through the monthly publishing of operational and financial reports of the NNPC.

    The President expressed optimism that with the members’ experience and knowledge, the country’s aspiration in the oil industry would be achieved within a reasonable time frame.

    Responding, the Chairman of the inaugurated boards, Kachikwu assured that they would ensure transparency and accountability in running the affairs of the boards.