Spotlight on Nigeria as Petroleum Boss is Sacked by President Goodluck Jonathan

President Jonathan - Asserting his authority

The President of Nigeria, Goodluck Jonathan, has fired the head of the country’s oil firm NNPC, after less than six weeks at the helm and ordered the finance ministry to audit the company’s accounts. The president has appointed Austin Oniwon, executive director of refineries and petrochemicals, to replace Shehu Ladan as group managing director of the Nigerian National Petroleum Corp.

The president also appointed Mike Oghiadomhe as his new chief of staff.

A spokesman for the President has declined to give a reason for Ladan’s dismissal, but did say the finance ministry would begin an audit into NNPC’s accounts. “The president has directed a comprehensive audit of NNPC accounts,” said Ima Niboro, special adviser to the president. According to the spokesman, the finance minister is to engage the services of a world class auditing firm to carry out the audit. Corruption and the mismanagement of Nigeria’s oil wealth have left the country mired in poverty despite five decades of oil extraction.

The country’s politicians accused of embezzling tens of millions of dollars share the blame, but local resentment has targeted oil firms and militant attacks on infrastructure have stopped the country pumping much above two thirds of its capacity.

The country’s legislature is currently finalising a bill that would drastically change the opertaion of the NNPC  and turn it into  a profit-driven entity that is able to tap international markets.

© 2010, Newstime Africa. All rights reserved. – The views expressed here are purely those of the author and not necessarily those of the publishers. – Newstime Africa content cannot be reproduced in any form – electronic or print – without prior consent of the Publishers. Copyright infringement will be pursued and perpetrators prosecuted.

8,156 total views, no views today

2 comments

  1. Yusuf Inuwa

    my muslim brothers are the cours of the abjet poverty in Nigeria today for stilling Nigerians Money for what i dont know and they cant runaway from that truth starting from IBB To Obasanjo, and the plan of my muslim Brothers to turn Nigeria in to an Islamic Country which will be possible if the Christains do not take time will surely happen Gods power Amen. Lastly let Nigerian Government Impliment it as law to be paying Citizens Whether you are Working or Not. May God bless this Good Man Goodlock Ebele Jonathan The President of Nigeria.

  2. Yusuf Inuwa

    Let those that have their oil manage it by themselves then Nigerian Government will know where the problem of the Nation is coming from. if sacking him will correct the issue let it be. Comment from Bauchi State 08081121522

Leave a Reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.