Emmanuel Kachikwu

$4b loan facility for oil industry: 40-man Chinese investors expected next month – Kachikwu

October 5, 2016 Amurun KelvinLeave a Comment

The minister of state for petroleum resources, Dr. Emmanuel Kachikwu has said Nigeria is expecting a loan facility of close to $4 billion from China. Speaking with state house correspondents after Wednesday’s meeting of the federal executive council, Kachikwu said the loan, which will be used to bolster infrastructure in the oil industry, was one of the results […]

Nigeria’s fuel subsidy unsustainable, says NNPC boss

August 20, 2015 Leave a Comment

The new head of Nigeria’s state oil company said on Thursday the country’s fuel subsidy was an unsustainable drain on the economy, calling for deregulation of the oil and gas sector. “Subsidy creates distortions in government revenue distribution,” Nigerian National Petroleum Corporation (NNPC) managing director Emmanuel Kachikwu said in a speech in Lagos, the country’s […]