Peterside Hails Kachikwu’s Transparency Policy at NNPC

Posted by African Examiner Latest Headlines, News Wednesday, August 19th, 2015

Dr. Dakuku Peterside, All Progressives Congress, APC governorship candidate in the April election in Rivers State has commended the new management team of the Nigerian National Petroleum Corporation, NNPC headed by Dr. Ibe Kachikwu for promising a monthly publication of the corporation’s account.

Peterside who was former Chairman, Federal House of Representatives Committee on Petroleum Resources, Downstream added that the corporation’s promise to open its books for public scrutiny could not have come at a better time, given recent revelations of tardiness and impunity at the corporation.

“The new policy on transparency and due process by the NNPC has renewed hope in the fact that Nigeria has all it takes to run a world class company. This is most encouraging.

“No country or organisation can make any meaningful progress in an atmosphere of chaos and inconsistencies, vices many believe, had pervaded the NNPC for many years now. Transparency in every organisation is key because it helps in measuring growth.

“I am happy that the troubled corporation is living up to public expectation in line with the new change mantra under the APC–led government of President Muhammadu Buhari. I therefore commend those behind these new initiatives, as the new ideas have the capacity to reposition the NNPC, if well implemented.

“But the drivers of this new vision should take a step further towards comprehensive reforms, especially with regard to business models. They should particularly examine critically, the corporation’s inherent contradictions essentially in the area of being a player and regulator, all at the same time.

“Steps should also be taken to get NNPC quoted on the stock exchange so that it can run properly as a viable commercial entity. This is the only way to turn the fortunes of the NNPC around”.

SYLVESTER ASOYA, Special Assistant (Media) to Dr. PETERSIDE