We can still succeed with $5 oil – Oil minister

The Minister of State for Petroleum Resources, Ibe Kachikwu, has revealed how annually he’s lost the sum of $1 million due to his acceptance to serve Nigeria.

The Minister made the disclosure on Sunday where he added that his former job was a far more financially rewarding venture compared to his decision to serve Nigeria borne out of his love of his fatherland.

He said; “The call to public service for me was unique. I was vice-president of Exxon Mobil West Africa and I was suddenly called to serve,”

“In serving, I lose a lot of money, if not at least a million dollars every year by virtue of being a minister, but the thing is, I am directed by the voice of God.

While tasking all hands in the building of institutions that would secure the future of the country and improve on the standard of living of Nigerians, Kachikwu said; “I believe that this country needs help. I believe that it is about time we began to perform for the young and upcoming. I believe that the sheer capacity of this country is unimaginable.

“I do not know of any country in the world with our population, our resources, our intellect, our flamboyance, our family nexus, everything is together.”

He added that the current economic crunch the country is faced with could be overcome under the right leadership noting that Nigerians would not feel the impact of the challenges posed by drop in the price of oil if government properly harnessed other natural resources.

“Everything in this country is together; the only thing that is not together is leadership and in God’s name; we are bound to change that,”

“In every little space that you have, and in my own case petroleum, you have to make an absolute change and so I am not worried about price of oil.

“It can be five dollar for all I care. I am worried about the direction of the industry; I am worried about changing things the way they have never done before.

“I am worried about creating opportunities that exist; I am worried about improving the standards of living; I am worried about encouraging opportunities in the sector. I am worried about opening up those opportunities that have existed for years”.