Who is the minister of petroleum in Nigeria?

Who is the minister of petroleum in Nigeria?

The ministry of petroleum is one of the most significant state organization. Petroleum minister plays an important role in the development of country's economy. Let's figure out the details of the work of this ministry and get acquainted with the minister.

minister of petroleum in Nigeria

Importance of the ministry

Federal Ministry of Petroleum was established in 1970. Petroleum resources have become the basis of the country's economy, so the ministry got a huge responsibility.

The main functions of the ministry of energy and petroleum are:

  1. Serve as a state representative in all matters of interaction in the field of petroleum resources between the Government and any group or individual.
  2. To conduct regulation and management functions over the operations of the petroleum ministry.
  3. To do annual record and report about the petroleum development in the country.
  4. To work as counsel state organization on the questions of oil and gas.
  5. The ministry represents Nigeria and conducts international negotiations about all the questions of oil sector.

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Who is the current minister of petroleum in Nigeria?

Dr. Emmanuel Ibe Kachikwu is Minister of Petroleum at present time. The new minister was appointed to the post in December of 2015.

minister of petroleum

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Former minister of petroleum in Nigeria was Diezani K. Alison-Madueke. She was blamed in financial misconducts and arrested. Therefore, the new minister was subjected to the most careful selection.

The story of current Minister of Petroleum Resources Nigeria

He was born on 18 December of 1956 in Delta State. Now he has an experience of holding management positions in petroleum industry for more than 30 years.

Dr. Emmanuel is one of the most important person of Nigeria. He is ex-journalist but the fate made a sharp turn and led him to the ministry. He is actually considered as a junior minister because the president Buhari is technically the petroleum minister of Nigeria. It was a decision of the president to keep this position to oversee all the reforms of the oil sector.

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The responsibility for petroleum gives almost unlimited prestige and power because this branch of economy is the most important for country. The country is depended on oil industry, 90 percent of Nigeria’s exports are petroleum products.

At the beginning of 2016, Nigeria was the biggest oil producer of the continent and the leadership of Dr. Emmanuel returned the leading positions to Nigeria. He is a representer of Delta State in the President’s office. His main task is to reform, institutionalize the transparency and accountability in the Nigerian oil sector.

On 4th July 2016, Dr. Ibe Kachikwu became a Chairman of the Nigerian National Petroleum Corporation.

minister of petroleum
Dr. Ibe Kachikwu meets with America’s Energy Secretary, Rick Perry

Dr. Emmanuel works in synergy with President, such a scheme of work allows to evolve innovative strategies and creating new foundations for a profit-generating sector to develop it up to the new level.

Before his ministery work Dr. Ibe Kachikwu was the director of group managing of the Nigerian National Petroleum Corporation. Mr. Kachikwu set the process of many transformations at NNPC. He had a strategic plan for transforming and reviving the state oil company.

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He held this post for 11 months, and during this time the NNPC was returned to profitability. It was the first time in more than 10 years when the state oil company declared a profit.

NNPC was re-organized into five units. New performance targets were set to accelerate the profitability and growth of new units.

Dr. Kachikwu came to ministry with a clear understanding of the necessity of the reforms. Dr. Kachikwu is a significant player in the oil sector for more than 30 years. This kind of experience helped him to develop solid working relations and contacts with the majority of directors of large petroleum corporations.

Also, he has a successful experience of working with ExxonMobil Corporation. His talent in leadership was proven as well as his capability to set up, develop and manage diverse business concerns.

From 1984 to 1994 Mr. Kachikwu held the position of General Counsel of Texaco Overseas Petroleum Company. It was when his leadership abilities were identified by 3 respected companies.

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Dr. Kachikwu is honored with numerous awards, in different fields of his activity.

minister of petroleum

At present time Dr. Ibe Kachikwu is world-known expert in the field of petroleum. He is an author of numerous spesial articles and even his plays/novels were published. He is also known as an author of the best-seller "Nigerian Foreign Investment Law and Policy". Many of Dr. Kachikwu's publications received worldwide compliments.

Dr. Kachikwu has a higher education in the field of law. This education helped him throughout his career.

At the 4th December 2015, Dr. Emmanuel Ibe Kachikwu was assigned the Petroleum Minister of Nigeria. The diplomacy and leadership led to stabilizing the situation with oil prices and enhanced the image of Nigeria amongst the committee of nations.

Dr. Kachikwu's writing flair has led to the publishing of such magazines as Family, Hints, Beauty Box. It is difficult to list all the titles and merits of this minister. But we see his experience in action and the results of the ministry work improve the economic condition of the country.

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Source: Legit.ng

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