* They are incompetent people in their rights, competencies required in managing cost appear missing 鈹�Policy Analyst

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The current composition of newly constituted Nigerian National Petroleum Corporation (NNPC) Board has been accused of lacking in the required expertise to drive commercial efficiency in the country.

Mr. Najim Animashaun, a policy expert, disclosed this Tuesday, June 9 in a webinar Masterclass that the Nigeria Natural Resource Charter (NNRC) organised on 鈥淎ssessing the Role of State Owned Enterprises: NNPC in Nigeria鈥檚 Development鈥�, reports The Sun.

NNRC is a public policy institute that promotes effective management of Nigeria鈥檚 natural resources for the public good.

Report indicates that the current members of the new Board are Mohammed Lawal (North West), Tajudeen Umar (North East), Adamu Mahmood Attah (North Central), Senator Magnus Abe (South South), Dr. Stephen Dike (South East) and Chief Pius Akinyelure (South West).

Recall that President Muhammadu Buhari May 30, 2020, approved the reconstitution of the Board of NNPC, after the expiration of the term of the Board members appointed in 2016.

The state oil corporation was reported to have raised the alarm over the N131.64 billion refinery loss in 2018 with Port Harcourt Refinery topping with N57.18 billion, Warri N41.01bn, and Kaduna N33.44 billion respectively.

Mr. Animashaun lamented that the NNPC audited report required by the NNPC Act was not readily available to the public like its monthly financial and operations report.

In connection with the composition of the NNPC Board, the policy analyst stated that its membership is not in tune with what obtains in other national oil companies where board membership is driven by technical and managerial expertise.

It was expected some of the country鈥檚 best accountants to be on the NNPC Board so that their books could be looked at and advice proffered in the area of cost analysis and plugging of leakages, he posited.

He said that a forward-looking union member on the Board could advise when it comes to layoffs, so that the best hands are retained should the Corporation decide to transit into a new entity as captured in the Petroleum Industry Bill (PIB).

鈥樷�榃hy I was criticising the current Board is because they are not competent people in their rights, but because the competencies required managing cost appears to be missing.

鈥淭hey may have skills set they are bringing to the Board, but the skills that are actually needed for this occasion appear to be missing,鈥� Animashaun contended.

According to him, the mandate of the Board is 鈥渢o cut cost. How do we cut cost so that we could be competitive?

鈥淪o if we are to cut cost to be competitive, then we need to bring in people and experts in that field on the Board even though they may not be petroleum experts.

鈥樷�楴igerians should not get scared about the board because it won鈥檛 make any difference from the boards that have been in place before.

鈥淚f we are looking for a transformative Board, then we should go the way of other NOCs,鈥� he argued.