President Muhammadu Buhari has appointed Mele Kolo Kyari as the new Group Managing Director of the state-owned oil firm, Nigerian National Petroleum Corporation.
Ndu Ughamadu, NNPC's spokesperson, stated this in a statement issued on Thursday morning.
Ughamadu said the President also appointed seven new Chief Operating Officers alongside Kyari.
These new top executives will handle Nigeria's cash cow, NNPC. The country is the biggest crude producer in Africa and crude sales provide the country about 90% of its foreign exchange earnings and dip in production or fall in oil prices may push the fragile and recovery economy into a mess.
Mallam Kyari is a quintessential crude oil marketer with prerequisite certification and outfield pedigree in Petroleum Economics and crude oil and gas trading.
In the last 27 years, he had traversed the entire value chain of the Petroleum Industry, with exceptional records of performance.
“Under his watch, the Crude Oil Marketing Division has recorded noticeable transformation in the management and sales of various Nigeria’s crude oil grades via an infusion of transparency and automation of the processes, “ according to a release by the NNPC spokesperson.
He will take over from the outgoing GMD on July 8, 2019, after a successful transition.
The new Chief Operating Officers
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