Former NNPC GMD, Baru lauds FG on new PMS price of N125 per litre

Dr Maikanti Baru, Former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) has commended the Federal Government on the N125 pump price of Premium Motor Spirit as known as petrol.

He gave the commendation at the Leadership Newspapers conference and Award, in Abuja, on Sunday.

Baru bagged the Leadership Newspaper 2019 Chief Executive Officers (CEO) Award.

He said that government was making impact on the citizen through the new pump price of N125.

“Government is taking the right step, the only thing is that they have also indicated that they are introducing price modulation.

“It is positive for the economy and people because there is reduction in price but it is also what we in the industry will say that there is need for the prices to move with the parity,” he added.

He noted that the move by the NNPC to put the refineries in shape would help local production and level of reduction in price of transportation of crude.

“Generally, I will say what the government has done is generally appreciated because it has empathised with the citizens, ” he said

Commenting on the award, he said that it came as a surprise but remained grateful for recognition of hardworking.

“I must say that when I was called and told that I have won the editorial board’s nomination for the CEO 2019 aware after I have left office, I was shocked because the media and everybody forgets you once you are out of the office.

“So, for the Leadership Newspapers to go out of its way to recognise what we have done in NNPC after my leadership and conferring me with CEO award was good and I cherish it,” he said.

According to him, the award is setting a new paradigm for people to want to contribute whatever they cannot minding when they are leaving office.

He urged workers to continue to work hard and contribute to bring change and positive result.

It was reported that Baru received the award for the achievement of the mandate of expanding hydrocarbon explorations to the country’s inland basin under serious security challenge among others.

On the impact of Coronavirus in the global oil market, he said that it was a trying moment for the global market.

He said that the situation had called for people to appreciate the need for the call for diversification of the economy.

“We should go away from mono economy, depending on only oil,” he said

He noted that Nigerians might not fully understand the effect of the pandemic because the effect had not become epidemic in the country.

“Our suppliers are shutting down and because of it, we are going to have shortage and with low income coming from oil price dropping to N25 dollars per barrel these are low to cover production cost.

“This is very terrible situation, we should empathise with government,” he added.

He advised the reserves the country have should be used the best as they could to see the country pass through this.

Baru noted that government and Nigerians must understand that the nation was in a tough situation and stressed the need to brace to the challenge.

On the new pump price of petrol, he said that government was making impact on the citizen through the policy.

“Government is taking the right step; the only thing is that they have also indicated that they are introducing price modulation.

“It is positive for the economy and people because there is reduction in price but it is also what we in the industry will say that there is need for the prices to move with the parity,” he added.

He noted that the move by the NNPC to put the refineries in shape would help local production and level of reduction in price of transportation of crude.

“Generally, I will say what the government has done is generally appreciated because it has empathised with the citizens,” he said.

In his comment, the Group managing Director of NNPC, Malam Mele Kyari said that corporation remained proud of Baru for his contributions to the growth of the corporation.

“We are proud of Baru, he remains a symbol of efficiency for the corporation,” he said.

It was reported that the Minister of State for Petroleum Resources, Chief Timipre Sylva also received the 2019 Leadership Best Politician Award of the year.