Date Published: 10/16/09

OPEC pledges to partner with Nigeria on deregulation

The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr.Abdallah El-Badri has described the deregulation policy of the Federal Government as a welcome development assuring that the Organisation will support the Government for it to succeed.

El-Badri made the pledge after the second technical session with OPEC visiting team, some NNPC management and other top government functionaries at the board room of the Nigerian National Petroleum Corporation in Abuja.

He noted that the Corporation was going through rapid transformation and sued for commitment and stability for the reformation programme to achieve its aim.

“The reform programme is really good to shake up and wake up people so as to make things work. This will help you to look into your industry to revive what is not working. Because in the oil sector you have to shoot at the right time”.

El-Badri expressed the hope that the National Gas plan would work saying that it must be set on motion as the international market would have a space to accommodate the supply from Nigeria.

The OPEC Secretary General lauded the Federal Government for its Amnesty programme and sued for its sustenance for the country to meet its quota.

In his earlier presentation, the head of the NNPC transformation team Dr. Tim Okon stated that the reform of the Corporation was informed by the need to cure some of the deficiencies of the NNPC Act of 1977.

He maintained that the Petroleum Industry Bill before the National Assembly if passed would transform the NNPC into a commercial cost saving centre that would be divorced from civil service philosophy and regulations.