Baru emerges chairman NGA advisory board

Baru emerges chairman NGA advisory board

- The group managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, is breaking new grounds

- Baru is the new chairman, advisory board, Nigerian Gas Association

- This is coming at a time Baru was accused of insubordination and disregard for due process by the minister of state for petroleum, Ibe Kachikwu

The GMD of NNPC, Maikanti Baru, has emerged as the chairman, advisory board, Nigerian Gas Association (NGA).

According to News Agency of Nigeria, the board was inaugurated on Tuesday, October 27, during an executive gas round-table for chief executives and directors levels of the oil and gas companies meeting in Lagos.

In his remarks, the GMD commended the NGA for its contribution to gas sector development through advocacy.

READ ALSO: 11 major bickering rocking Nigeria's federal government

Baru said that the advisory board will add to the development of the gas industry.

He said that the federal government has mandated aggressive gas policy to stimulate growth of gas sector, while assuring stakeholders of his commitment to the objectives of the board.

Dada Thomas, the president of NGA, stressed the importance of gas in economic development in Nigeria.

“For Nigerian economy to achieve its full potential, there must be power, to get power we need gas, to get gas, we need much needed investment to develop the gas sector.

“Without appropriate fiscal policy on gas, there can never be investments in the sector.

“We must diversify the Nigerian economy and gas has a crucial role to play, so, we must promote investment in gas sector.

“We must ensure that we pass a good petroleum industry bill that will promote and expand the industry and not shrink it," he said.

Thomas said a situation where gas investment are made in dollars, gas is sold in dollars but invoices are raised in naira at Central Bank of Nigeria exchange rate which will reduce the invoice value, is unacceptable.

Meanwhile, a recent media report indicates that the presidency has initiated moves to ensure the Baru is not indicted by the Senate ad hoc committee charged with investigating him for awarding contracts to the tune of $25 billion without recourse to the NNPC board of directors.

The nine-man committee chaired by Senator Aliyu Wamakko (Sokoto, APC) is charged with investigating Baru over the allegations raised against him by Kachikwu.

Kachikwu's leaked memo to President Buhari accused Baru of insubordination and keeping the NNPC board chaired by Kachikwu in the dark in the award of contracts and promotion of senior executives of NNPC.

READ ALSO: No missing $25bn or contract in like sum in NNPC - Presidency

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