>
NNPC GMD, Ibe Kachikwu faced the senate today for screening as a ministerial nominee. He took the opportunity to express his feeling about the Petroleum Industry Bill (PIB) when asked to comment on it.
He also said the Federal Government was working on a programme where Nigerians will be given free gas cylinders as measures to move people away from use of kerosene
“Once we break up PIB to realistic aspects then we will begin to make progress”
‘I won’t be constrained by the lack of PIB; I will continue work with the existing laws for now
“$15 billion dollars is lost a year as a result of the absence of PIB”
Better to have not proposed a PIB, than announce it and then leave it un-passed, creating uncertainty
“At the end of December we will compare production of refineries and shut down whichever ones are not producing”
‘The current average performance level of our Refineries are 25 – 28%.’
When a contract is being cancelled, it is not about the personality behind the contract but the terms of the contract