Pres Buhari signs
BreakingHighlightOil & GasTop StoryTrending Story

Petroleum Industry Act: Pres. orders incorporation of Nigerian National Petroleum Company Ltd

673

 

In furtherance to the implementation of the Petroleum Industry Act 2021, President Muhammadu Buhari, has directed the incorporation of the Nigerian National Petroleum Company Ltd.

Buhari in his capacity as Minister of Petroleum Resources is acting in consonance with Section 53 (1) of the Petroleum Industry Act 2021 which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company.

Similarly, the president has also directed the Group Managing Director of NNPC, Mr Mele Kolo Kyari, to take necessary steps to ensure that the incorporation of the NNPC Ltd is consistent with the provisions of the PIA 2021.

The President made the announcement on Sunday in a statement by Mr Femi Adesina, the Special Adviser on Media and Publicity, and made available to Persecondnews.

Also, by the power vested in him under Section 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the Company.

Senator Ifeanyi Ararume is the
Chairman of the Board while Mele Kolo Kyari and Umar I. Ajiya are Chief Executive Officer, and Chief Financial Officer, respectively.

Other board members are Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).

Leave a comment

Related Articles

Senate Approves N360bn Increase in Rivers’ 2025 N1.8trn Budget, Cites Reasons

Rivers State’s Sole Administrator, Vice Admiral Ibok-Ete Ibak, has presented a revised...

Ahead of 50th Anniversary: Oyo Govt Unveils N63.4bln Renovation Plan for Government House

The Oyo State government has approved a whopping N63.47 billion for the...

Alleged terrorism: FG closes case against Nnamdi Kanu

The Federal Government on Thursday closed its case in the ongoing trial...

Dangote Pays Visit to NPA, Commends One-Stop-Shop Initiative’s Success

The Managing Director/CEO of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho,...

Defamation trial: Ezekwesili, Yesufu, others storm court for Akpoti-Uduaghan

A show of solidarity unfolded at the Federal Capital Territory (FCT) High...

Social Media Unstoppable, FG Won’t Muzzle Media – Information Minister

The Minister of Information and National Orientation, Mr Mohammed Idris, has acknowledged...

Just in: Defamation: Court grants Sen. Akpoti-Uduaghan N50m bail, adjourns until Sept. 23

A Federal High Court sitting in Maitama in the Federal Capital Territory...

Defamation: Akpoti-Uduaghan arrives in court for arraignment

Senator Natasha Akpoti-Uduaghan, the suspended representative for Kogi Central Senatorial District, has...

GF Moves to Tackle Food Insecurity, Poor Infrastructure

The Nigeria Governors’ Forum (NGF) has identified key factors driving the rising...

Consistent Innovations, Capacity Building Key to Quality Healthcare – Dr. Peterside

Dr. Dakuku Peterside, a renowned turnaround expert and accomplished technocrat, says continuous...

TCN Inaugurates Committee to Drive Power Sector Recovery, Boost Grid Efficiency

By Joycelyn Ellakeche Adah In a renewed push to reform Nigeria’s ailing...

Enugu Govt Inaugurates LOC for 23rd National Sports Festival, NSC Hails Gov. Mbah

The Enugu State Government has taken a significant step towards hosting the...

World Drug Day 2025: Marwa, UNODC urge public, state govts to join fight against illicit substance abuse

The Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA),...

Vandalism, Obsolete Infrastructure, Underfunding Threaten Nigeria’s Transmission Network – TCN MD

By Joycelyn Ellakeche Adah Delayed energy reform, incessant large-scale vandalism, obsolete infrastructure,...

Benue Killings: Tinubu Queries Security Chiefs Over Lack of Arrests

President Bola Tinubu on Wednesday expressed surprise that no arrests were made...

Gwarinpa Hotel Female Murder: FCT Police Launch Manhunt for Man Friend

The Federal Capital Territory (FCT) Police Command has initiated an investigation into...

University’s ‘No Bra, No Exam’ Rule Sparks Outrage, It’s Sexual Assault, Students Say

Female students at Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun State, have reportedly...

Benue Bloodshed: Tinubu Approves Cattle Ranch to End Farmer-Herder Clashes

President Bola Tinubu has approved the establishment of a ranch in Benue...

Just in: Nigeria’s Biodiversity Gets Boost as FG Validates National Strategy

The Federal Government has approved the National Biodiversity Strategy and Action Plan...

Benue Attack Survivor: ’20 of My Family Were Burnt Alive

A survivor of the recent attack in Yelewata, Benue State, has recounted...