The Presidency is reportedly shopping for a new Group Managing Director for the Nigerian National Petroleum Corporation (NNPC) to replace the present GMD. Dr. Ibe Kachikwu, who has been rumoured to be a minister-designate.
The thinking of the Presidency is that since Kachikwu will most probably be assigned the Minister of State for Petroleum Resources portfolio, he cannot continue to be in charge of NNPC.
It was also learnt that President Muhammadu Buhari believes a Minister cannot be a regulator and an operator at the same time.
“The thinking in the Presidency is that as a minister, Kachikwu cannot be a regulator and an operator at the same time.
“We have had instances in the past when the two portfolios were combined, but the Presidency does not think along this line at present. Kachikwu is an asset; this is why he is moving up.
“After the inauguration of the ministers, a new GMD may be appointed by the president after consultations with Kachikwu and other stakeholders”, a reliable source disclosed.