How IbeKachikwu emerged GMD of NNPC

By Adebayo Obajemu&AdeolaOredola

Finally, President MuhammaduBuhari has made the expected sensitive appointment in the oil sector, with the appointment of Emmanuel IbeKachikwu, former publisher of KayodeAjala-edited Romance magazine, who was also associated with Hints, a celebrated romance magazine in the late 80s and early 90s.  Industry sources hinted that the appointment was not a sudden flight of fancy on the part of the President, but a deliberate, calculated political move to assuage certain interests who , according to sources, played a central role in the emergence of Buhari.

Hallmark learnt that Kachikwu, a long-standing oil player, was the choice of the industry’s barons, who have the ears of the President.  It was learnt that Kachikwu  had  before the dissolution of the board of the NNPC been behind most of the administration’s directives in the oil and gas sector, is one of the most influential and connected foot soldier of powerful private players in the sector; the unabashed controllers of Nigeria’s hydro-carbon destiny.

Following Buhari’s plan to restructure the sector and reposition it for greater efficiency, rid it of corruption and cronyism,  he contacted some powerful insiders/players in the industry, notably retired General TheophilusYakubuDanjuma for input. It was gathered that Kachikwu was easily sold to Buhari by these powerful oil magnates on account of his competence, experience and solid grounding in different areas of the economy that traveresed banking, publishing and others.

Kachikwu, a long-standing associate of NuelOjei, was brought to Buhari shortly after he assumed office and indicated interest to restructure the troubled cash -cow of the country’s economy by  a group of oil block owners that comprise of former President Ibrahim Babangida, his side kick business magnate, NuelOjei and Gen. TheophilusDanjuma (rtd) before the elections, and the deal was concluded after the Presidential Election. It wasn’t their first try.

Around 2013, the triumvirate, was said to have met privately with Goodluck Jonathan, former President and presented him with the idea of appointing Dr.Kachikwu  as Petroleum Minister in place of  Diezani Alison-Madueke and they would back him maximally in the 2015 elections. The negotiations dragged on and finally collapsed when President Jonathan called it off. Sources told Hallmark that the inability of Jonathan to see far and to weigh the clout of these oil barons and accede to their demands , was one of the reasons he was not successful in the last election, since these power brokers in the oil sector hinged their support for his reelection on Jonathan’s acceptance of their proposal to him.

Then as the 2015 elections loomed and Buhari’s campaign had to contend with serious financial constraints, he turned to Gen. T. Y. Danjuma for help. Danjuma invited his friends, It was gathered that Buhari’s campaign organisation later in the course of time experienced financial strain, and he had to consult his friend, General Danjuma once again.

There and then, it was learnt, Buhari accepted to give them the position of the petroleum minister as a reward for their funding. Thereafter billions of Naira flowed into the Buhari campaign. Indeed the group also contributed to the Jonathan campaign.

After Buhari’s inauguration, the triumvirate met him with their candidate in attendance. Sources abreast of the negotiations told Hallmark that Buhari announced to the group a slight change in the plan. According to the source, he told them that a group he referred to as “my people” would not agree to cede the position to them as originally planned.

Danjuma was left fuming and was said to have challenged Buhari to be the man he claims to be by keeping to the original agreement. The President offered the GMD’s position which was flatly rejected. To juice up his offer, he promised both the GMD and minister of state, petroleum. Danjuma was said to have pointed out the sheer clumsiness of the proposal. That was the point IBB took over a mediatory role. It was not clear at press time if the additional offer of minister of state, petroleum was still on the table.

Kachikwu, a respected operator in the industry owes his rise in the industry to his beautiful mind and an array of godfathers in the industry. NuelOjei is the Delta State born oil industry player who came into untold riches when IBB was president. Even though, Buhari has repeatedly restated his readiness to fight vested interest, the latest appointment simply goes to show how those interests could easily overwhelm.

As it stands, many in the All Progressives Congress are said to be uncomfortable with the appointment given the fact that Kachikwu is an outsider, as he’s not among the power loop of the business side of the ruling party. He’s seen as representing outside interest, and many APC stalwarts who spoke to Hallmark on the condition of annoymity are of the view that this appointment may in the end portends what Buhari may do; making key appointments outside of the party.

Kachikwu hails from Onicha-Ugbo in Delta State.

Towards the tail-end of the 90s, in particular In 1989, Emmanuel IbeKachikwu gathered a cream of fine writers including KayodeAjala and Reuben Abati among others to pioneer romance journalism, a genre that explores romantic tales and relationship issues across the country.

Hints magazine, a weekly publication by Mr.Kachikwu’s True Tales Publications Limited, was an instant success in the 1990’s, especially for the youth.

He graduated with a First Class in Law from the University of Nigeria, Nsukka, and the Nigerian Law School. He also had Masters and Doctorate Degrees in Law from the Harvard Law School.

Mr.Kachikwu worked as an Investment Attorney in the United States; General Counsel with Texaco Upstream and Downstream in Nigeria; Executive Vice Chairman of Mobil Producing Nigeria Unlimited; and General Counsel for ExxonMobil Nigeria affiliate Upstream and Downstream Companies in Nigeria.

In 2009, after two decades of hitting the news stand every week, True Tales Publications Limited announced that Hints magazine would become a monthly publication.