Kachikwu, Baru meet, agree on independence of NNPC, DPR

Baru said for Nigeria to get it right on the marginal fields, the autonomy of the regulator and the transparency of the process must be enshrined.

While reacting, the minister agreed with Baru, saying that the point “is very, very key to see an independent regulator with very enormous powers, with less of political interface so that individual could do their work.”

 Kachikwu said at the moment he is whittling down the powers of the minister’s office in the on-going reforms of the industry “so that these institutions could work and work well, the reality is that no one will work as a minister forever, you are going to hand over that portfolio.

“We should be looking for the system surviving and been able to work well, so it’s something that we are working very hard on and I think if you look at the issues that come up, there are a lot of emphasis on that independence. We are still working to make it better by the time the National Assembly finishes what they are doing we are going to see a much stronger, a much larger independent regulator.” 

 Kachikwu said at the moment he is whittling down the powers of the minister’s office in the on-going reforms of the industry “so that these institutions could work and work well, the reality is that no one will work as a minister forever, you are going to hand over that portfolio.

“We should be looking for the system surviving and been able to work well, so it’s something that we are working very hard on and I think if you look at the issues that come up, there are a lot of emphasis on that independence. We are still working to make it better by the time the National Assembly finishes what they are doing we are going to see a much stronger, a much larger independent regulator.”