The Group Managing Director (GMD), NNPC, Mr. Mele Kyari has come out to say that Nigerians should prepare for trouble as the world experiences global oil price crash.

Oil prices have fallen to about $32 per barrel while the nation’s federal government 2020 budget was benchmarked at $57 per barrel.

Even at the low price, Kyari disclosed that demand for crude has reduced so much that 50 cargoes of Nigeria’s crude have not found buyers.

Mele revealed this today at the on-going Consultative Roundtable on the economy in Abuja.

In his statement, the CBN Governor, Mr. Godwin Emefiele, revealed tha the top bank would fund local drugs production and the establishment of specialist hospitals in Nigeria.

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The Nigerian National Petroleum Corporation (NNPC) is the oil corporation through which the federal government of Nigeria regulates and participates in the country’s petroleum industry. The NNPC business operations are managed through Strategic Business and Corporate Services Units (SBUs/CSUs) in diverse locations across Nigeria. In that case; The Nigerian National Petroleum Corporation (NNPC) initiated a recruitment scheme and since then, until date the NNPC recruitment have been a yearly scheme.

NNPC was established on 1 April 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Total S.A, Chevron, and Texaco (now merged with Chevron). Through collaboration with these companies, the Nigerian government conducts petroleum exploration and production. In 2007, the head of the Nigerian wing of Transparency International said salaries for NNPC workers were too low to prevent graft.

President Buhari appointed Mele Kyari as the New Group Managing Director Of NNPC. Kyari replaces Maikanti Baru. The new GMD and the other appointed NNPC officials would work alongside the current officers in the same position until the 7th of July 2019.

Dr. Maikanti Baru is the former Group Managing Director (GMD). He was appointed Group Managing Director on July 4, 2016, under the presidency of Muhammadu Buhari; he succeeded Dr. Emmanuel Ibe Kachikwu, the current Nigerian Minister of State, Petroleum.