Fuel Subsidy: Time For PMB To Relinquish Petroleum Minister’s Porfolio

President Muhammadu Buhari, having been Petroleum Minister in the 70s where refineries were built under his watch and also chairman of the successful Petroleum Task Fund (PTF) under the regime of the late Sani Abacha, has a good knowledge of the Petroleum industry.

I believe that must have informed his decision to take on the role as the Minister of Petroleum. The model was first adopted by former president, Chief Olusegun Obasanjo when he kept the Petroleum Ministry to himself.

The ministry, like every other sector is riddled with corruption. However, I believe it’s time he relinquished the position. As the head of state and Commander-in-Chief, all the ministers are under his purview. Nigeria has recorded considerable success in the fight against corruption and Boko Haram under the watch of President Buhari, without him being the EFCC chairman or Minister of Defence.

The same principle can be applied here, I think being the Minister of Petroleum has even complicated matters for the sector. “Magician” Dr Ibe Kachikwu should be made the substantive Minister of Petroleum while a new GMD of the Nigerian National Petroleum Corporation (NNPC) should be appointed. 

Kachikwu, combining the two roles is a recipe for disaster. Like they say, ‘two good heads are better than one.’ To pin all our hopes for an efficient and improved petroleum sector on Kachikwu, I think, is suicide.