President Umaru Yar’Adua wants former OPEC Secretary-General Rilwanu Lukman to take over as minister of energy as part of a cabinet reshuffle, a presidential aide told Reuters on Friday.
Lukman, who is an honorary advisor to Yar’Adua on energy and a former oil minister, would take over as overall head of the energy ministry in the world’s eighth biggest oil exporter, a position currently held by the president.
“The president wants Lukman to head the energy ministry because he headed the committee that suggested ways to move the energy sector forward,” the aide said.
“I think if the Senate clears him, he will head the ministry,” the aide added, asking not to be named.
As well as winning Senate approval, Lukman — who is in his 70s and divides his time between Nigeria, Vienna and London — would have to agree to take on the position.
He is one of the architects of the planned restructuring of the state-run Nigerian National Petroleum Corporation (NNPC), an inefficient bureaucracy whose overhaul is vital if Nigeria is to maintain its position as Africa’s top oil producer.
Funding shortfalls at NNPC’s joint ventures with foreign firms including Royal Dutch Shell and Exxon Mobil have hampered their ability to fund new projects.
Among the reforms drawn up in part by Lukman, the OPEC member would create an independent, profit-driven state oil firm that can raise funds by investing in the capital markets instead of relying on government revenue.