Nigeria: New leaders for state oil firm

President Goodluck Jonathan had replaced the top four executives at Nigeria National Petroleum Corporation (NNPC), his office said on Saturday, intervening in one of Nigeria’s most powerful institutions and the source of 80 percent of state revenues. Joseph Thlama Dawha replaces Andrew Yakubu as group managing director. Presidential spokesman Reuben Abati declined to give further details. A senior presidency source, who declined to be named, said it was because Jonathan was unimpressed with Yakubu’s handling of a parliamentary inquiry into oil corruption in February. Yakubu was not available for comment. The NNPC denied the charges, but its evidence on missing money was derided by critics. Industry sources say regardless of who runs the NNPC, major decisions are made by Oil Minister Diezani Alison-Madueke. – Reuters