TheCable

Nigeria still retains its seat as the president of the Organisation of Petroleum Exporting Countries (OPEC), a competent official of the Nigerian National Petroleum Corporation (NNPC) said in Abuja on Thursday.

The official, who preferred anonymity, said the exit of Diezani Alison-Madueke, the immediate-past minister of petroleum resources, had nothing to do with the status of Nigeria as the president of the organisation.

The official said the position would be filled after the president appoints a new minister of petroleum, adding that the former minister was elected at the 166th general meeting of OPEC, not in her own capacity but to represent Nigeria.

The president of OPEC, according to the official, is expected to serve for a period of one year and to preside over the meetings of the conference in the course of that presidency.

The source said OPEC has alternate president who exercises the responsibilities of the president during an absence, or when the incumbent is unable to carry out the responsibilities.

Alison-Madueke was elected the president of the international oil body on November 27, 2014 but started to function in the office in January 2015.