Kachikwu:NNPC made N217m profit under my watch

Nigerian Govt creates new regulator for petroleum industry

Former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe-Kachikwu, said in his handover remarks yesterday that the corporation, which he said had never made profit before, made N217 million profit during his time as GMD.

“I am happy to announce that in our May results, for the first time in the history of this company, the NNPC made a profit of N217 million,” he told the gathering at the NNPC Towers while handing over to the new GMD, Dr. Maikanti Kacalla Baru, in Abuja.  .

On the production volume that has reduced owing to the vandalisation of oil pipelines by the Niger Delta Avengers, Kachikwu, who remains the chairman of NNPC’s board of directors and Minister of State for Petroleum, said, “We are doing 1.9 million barrels.”

According to him, the Federal Government had been working on bringing an end to the crisis in the Niger Delta.

He added that he was still studying what created the gap in order to further engage the people and bridge the gaps.

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