Connect with us





Group Managing Director of NNPCL, Mele Kyari

The appointment of Jean-Marc Cordier as the head of the oil trading arm of the Nigerian National Petroleum Company Limited has raised diverse concerns among industry experts and operators.

Cordier would head NNPC Trading Ltd, a subsidiary of NNPCL, and this was announced in a statement issued in Abuja by the company’s Chief Corporate Communications Officer, Garba-Deen Muhammad.

The announcement, however, triggered resentments among analysts and operators on Monday, though other experts found nothing wrong with the development.

Energy expert and Chief Executive Officer, Sage Consulting, Bode Fadipe, said, “It is of concern to most Nigerians that at this time of our life we are still having a foreigner in such a strategic business enterprise in this country.

“The question many people will ask is that, don’t we have Nigerians who can manage that office? Are the expatriates now investors in the business or is it a joint venture that allows a foreigner to hold that kind of position?

“Has NNPC Ltd sold its shares to the public? To the best of my knowledge, it is still the Nigerian government that owns the shares in NNPCL. It is still owned by the government, so when did it start appointing foreigners to such a level?”

Fadipe said this was the first time he would see such an appointment in the national oil company, describing the development as abnormal.

“I think it is an anomaly. I don’t know what would have informed that kind of position, but I think it is a situation that calls for further interrogation,” the energy analyst stated.

But on his part, a legal consultant and energy law advisor, Prof. Yemi Oke, argued that under the Petroleum Industry Act 2021, NNPCL should be a going concern, as there were requirements under the law for appointments.

“There are other Nigerian companies that have expatriates as employees, all they need is to comply with the expatriate quota and show that there’s no local manpower skilled enough to man that particular office, due to the technical nature of the position,” he stated.

However, an impeccable source at the national oil firm told our correspondent that most commercially viable subsidiaries of NNPCL would be managed by expatriates, going forward.

“I was reliably told that most subsidiaries or units that are commercially viable, the operations would be managed by expatriates, with the those in M3 category now limited to administrative schedules.

“This is same with NNPC Retails (the filling stations arm), NETCO (National Engineering and Technical Company), NPDC (Nigeria Upstream Development Company), etc,” the source, who pleaded not to be named due to lack of authorisation, stated.

The source added, “If the expatriates are on M3 NNPC grade (Executive Vice President is M2, Group Chief Executive Officer is M1), would that not lead to rivalry and conflict, at the expense of the company’s man-hours?”

When asked what then could be the reasons for appointing expatriates if the units to be headed by them were currently commercially viable under the management of indigenes, the source replied, “Perhaps, it is to instill higher productivity, improved net profit, better efficiency and operational effectiveness.”

NNPCL, in its statement, said Cordier, served as a former Vice President of the Abu Dhabi National Oil Company, adding that his appointment was in furtherance of the ongoing repositioning in the company for improved growth, better performance and service delivery.

The statement read in part, “A renowned international oil trader, Cordier, a French/Swiss national, holds a Masters degree in Corporate Finance with Distinction from Paris 9 University.

“He comes into the role with a rich background spanning over 30 years in physical oil, oil derivatives, and risk management, with significant experience in reorganising and creating a trading business.”

Also commenting on the development, the President, Nigeria Consumer Protection Network, Kunle Olubiyo, said NNPCL should endeavour to promote the local content drive of the Federal Government.

“Does it mean that there are no competent Nigerians who could do the same job, with respect to the promotion of local content? NNCPL has a mandate of refining petroleum products and it is a national company.

“So for it to now go out to look for a foreigner shows that it is taking the wrong direction. Was it established solely as an oil marketing company? I think that move is a misalignment on this part,” he stated.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

BREAKING NEWS: PDP’s Diri Wins Bayelsa Gov Election



The incumbent Governor of Bayelsa State and governorship candidate of the Peoples Democratic Party, Douye Diri, has been declared the winner of the State governorship election held last Saturday.

The Returning Officer, Prof Faruq Kuta, who is also the Vice Chancellor of the Federal University Of Technology, Minna, announced Diri winner of the poll at the collation centre of the election on Monday.

Diri polled 175,196 to defeat his closest rival, Timipre Sylva of the All Progressives Congress, who garnered 110,108 votes while the Labour Party polled 905 votes.

Continue Reading


Plateau: Protesters Storm S’ Court Over Sack Of Four PDP Members From NASS



Over 1000 protesters, on Monday, besieged the Supreme Court to register their displeasure over the judgment of the Court of Appeal in Abuja, which sacked four members of the Peoples Democratic Party, PDP, in Plateau State, from the National Assembly, based on a pre-election dispute.

The placard and banner-wielding groups, under the aegis of Coalition for Justice in Africa, CJA, submitted a protest letter to the Chief Justice of Nigeria, CJN, Justice Olukayode Ariwoola.

According to the protesters, the appellate court, by its judgement, thwarted the wish of electorates in Plateau state, when it declared candidates that lost the National Assembly elections that held on February 25, as winners of the legislative seats.

Speaking with newsmen shortly after the protest letter was submitted to the CJN, the National President of the CJA, Dr. Daniel Okwa, maintained that the judgement of the appellate court was capable of causing a breakdown of law and order in the state.

He said the group was at the apex court to seek the intervention of the CJN, alleging that the verdicts that removed all the PDP federal lawmakers were influenced by some chieftains of the ruling All Progressives Congress, APC.

The protest letter, which was obtained by Vanguard, read in part: “The Coalition for Truth and Justice believes that the judgment of the Appeal Court in Abuja is a case of injustice, else, how could one explain a situation where lawmakers of the All Progressive Congress (APC) would boast and predict the outcome of the Court of Appeal judgment even before the pronouncement.

“This is unacceptable and indicates that the justice regime in Nigeria has been thrown to the dogs. What happened in Plateau State is an aberration of immeasurable proportion. There is a distinction between a pre-election matter and a post-election matter.

“The Supreme Court has established this fact on several occasions. It is now a wonder why the Appeal Court would act otherwise and in a despicable manner that tends to truncate our nascent democracy.

“The Coalition for Truth and Justice entirely condemns the actions of the justices of the Appeal Court that sat in Abuja. They displayed insensitivity to the electoral choices of the people. This is a worrisome trend that the Chief Justice of Nigeria must address.

“This is on the heels that the Judiciary, the world over, is regarded as the last hope of the commoner. This presupposes that it is the only place the commoner can get justice. The function of the Judiciary is not to twist the truth or fabricate facts but to interpret the law. The consequence of the interpretation of the law is justice.

“However, what played out in Plateau state negates the Judiciary’s position as the common’s last hope. The Judiciary is for sale to the highest bidder in Nigeria, if such positions could be taken without recourse to the implication of such on the psychological state of the people.

“The Coalition for Truth and Justice is using this protest to drive the point that justice in Nigeria should not be reserved for a section of the country or any political party. What happened in Plateau should not be allowed to stand or repeat itself. The implication of such is that the reputation of the judicial arm of government would be eroded.”

It will be recalled that the appellate court had on November 7, in a unanimous decision by a three-member panel led by Justice Elfrieda Williams-Dawodu, okayed the nullification of the election of a Senator and three members of the House of Representatives in the state that emerged on the platform of the PDP.

The panel based its decision on failure of the PDP to fully comply with a court that was made in 2022, which it said directed the party to conduct congress in the 17 Local Government Areas in the state.

It, therefore, held that though the lawmakers won their respective seats during the National Assembly election that held on February 25, all the scores that were credited them, amounted to wasted votes.

It ordered that candidates that got the second majority lawful votes at the election, should be sworn in as winners of the legislative seats.


Continue Reading


Canada’s Abuja, Lagos Visa Centres Open – High Commission



The Canadian High Commission in Nigeria has said its Abuja and Lagos visa application centres remain open for the processing of immigration, refugee and citizenship applications.

The Canadian High Commission had on Tuesday announced the suspension of operations in its Abuja office following a fire incident at its generator house, which claimed two lives on Monday.

Nigerians had expressed fear that the operations suspension would hamper visa application processes.

But  in a statement posted on its X handle on Thursday, the  Canadian High Commission clarified that its Abuja and Lagos visa application centres remain open and operational.

In the statement by its public affairs staff, Demilade Kosemani, the commission said, “As we continue to mourn the passing of our dear colleague from the High Commission of Canada in Abuja, please note the following information below:

“Immigration, Refugee and Citizenship Canada clients: processing of applications continues. Regardless of the suspension of operations at the High Commission of Canada in Abuja, the Visa Application Centres in Abuja and Lagos remain open.”

Meanwhile, a travel agency, , TMT Travels and Tours Limited, has sympathised with the Canadian High Commission over the Monday tragic fire incident.

In a statement on Thursday the agency’s Chief Executive Officer, Collins Onukwubiri,  said, “We at TMT Travels and Tours Limited shares in the grief and sense of loss of the Canadian embassy in Abuja. The partial burning of the Canadian embassy in Abuja and the death of two workers there was most unfortunate.

“Canada, as a major player in the Nigeria’s travel and tours business, is an integral player in Nigeria’s economy. We know how devastating this unfortunate incident is to them but we want to say that we stand with them in this time and always. We specially condole with the families of the two persons who died in the process.”


Continue Reading


Copyright © Estreet On TV 2023