I read the BusinessDay editorial of May 18, 2015 on the above-named subject and I felt the editorial hit the ‘nail on the head’ and touched on the key aspects the next boss of the petroleum sector will/should focus on.
As we all know, the next few weeks will be very strategic in terms of the overhaul the cabinet will experience and also that of the Federal Executive Council.
As a matter of fact, the need for technocrats does not just stop with the petroleum sector only but even in other real sectors of the economy. The need for well-trained and seasoned technocrats is absolutely imperative, but especially in the oil and gas sector as the editorial rightly mentioned. Our economy is heavily dependent on it.
Even with calls for the diversification of the economy, it will still take some time even after diversifying the economy before the load on the petroleum sector reduces. A technician who understands the dynamics of the sector is needed; someone with real knowledge of the operations of the oil and gas industry, who will reform the entire supply chain of the sector, and also understands the economic/investment aspects of the job.
The next petroleum minister should be more of a business-minded person than a bureaucrat, who will not spend much time struggling for power and ‘face time’ but will concentrate of reforming the sector.
The head of the petroleum ministry may represent the first of many strategic decisions the Buhari administration will likely face. And economists are watching keenly.
Mustapha Ibrahim
FHA Lugbe, Abuja.
