Pres. Buhari with Newly Inaugurated Board of NNPC Ltd
HighlightOil & GasTop StoryTrending Story

NNPC Ltd Board: Uphold corporate governance, transparency, Buhari tells members

367
The Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Ltd has got a presidential directive on ensuring strict compliance with corporate governance principles and doing business with the highest ethical standards, integrity, and transparency.

 

Inaugurating the Board on Friday in Abuja, President Muhammadu Buhari also urged them to focus on profitability and operate at par with its industry peers across the world.

 

“I expect the NNPC Limited to be mindful of our commitments to our net carbon zero aspirations and to ensure total alignment with the global energy transition realities,” he said in a statement by Mr Femi Adesina, the Special Adviser to the President on Media and Publicity and emailed to Persecondnews.

 

The Board chaired by Senator Margery Chuba Okadigbo, the widow of ex-President of Senate, Dr Chuba Okadigbo, has as members Malam Mele Kolo Kyari, Chief Executive Officer, Umar I. Ajiya, Chief Financial Officer, Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), and Engr. Henry Obih (South East).

 

Others are Barrister Constance Harry Marshal (South South), Chief Pius Akinyelure (South West), Dr Nasir Sani Gwarzo, Permanent Secretary, Ministry of Petroleum Resources and Alhaji Aliyu Ahmed, Permanent Secretary, Minister, Finance, Budget and National Planning.

 

 The President reminded the board members that they came on board as a result of the reforms put forward by the Petroleum Industry Act (PIA) 2021, which seeks to reposition the Nigerian petroleum industry to a commercially viable and competitive industry in line with global business dynamics and best practices.

 

 Buhari said: ”The Nigerian National Petroleum Company Limited is mandated to focus on profitability and continuous value creation beyond the simple fulfilment of legal and regulatory requirements.

 

 Read Also: 2023: I will keep my anointed successor to my chest for now, says Buhari

 

 ”NNPC Limited is expected to operate at par with its industry peers across the world, while acting as Enabler Company that will foster the development of other sectors of our economy.

 

 ”The inauguration of this Board is a major step in the ongoing transition to a more viable petroleum industry that will attract investment to support our economic growth and generate employment to millions of our people.”

 

 He directed that there should be full alignment and synergy between NNPC Limited, the Upstream Regulatory Commission and the Midstream & Downstream Regulatory Authority in compliance with the provisions of the law in all respects to deliver the onerous reforms envisaged for the energy industry.

 

 ”NNPC Limited is expected to operate at par with its industry peers elsewhere in the world, while acting as Enabler Company that will foster the development of other sectors of our Economy.”

 

 While thanking the leadership and members of the National Assembly for their seamless support in the journey towards a viable, accountable and transparent energy industry, the President said he would count on the professional insights and ethical conduct of the Board members to ensure the delivery of his administration’s promises to Nigerians.

 

 The Minister of State for Petroleum Resources, Chief Timipre Sylva, recalled that the Buhari administration had achieved a lot in the petroleum industry, including the signing of the PIA, the registration of NNPC Limited as a CAMA company and the inauguration of the Board of the NNPC Limited.

 

 ”Mr President this is history in the making because this is the first time any President of the Federal Republic of Nigeria is inaugurating an independent board of an independent NNPC Limited.

 

 “This, however, puts a lot of responsibility on the shoulders of those inaugurated and those of us in the Ministry of Petroleum Resources,” the one-time Bayelsa governor said.

 

 

Leave a comment

Related Articles

Nigeria Takes Giant Leap Towards Energy Independence as Port Harcourt Refinery Bounces Back to Life

In a significant milestone, the Port Harcourt Refinery has commenced operations, marking...

Infidelity crashes 45-year-old marriage 

After 45 years of unresolved marital crisis, Mr. Ilani Alhaji and his...

Just In: Port Harcourt Refinery Begins Production; Truck Loading Starts Today, Tuesday

Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery...

Just in: 1.6m of 2m Nigerians living with HIV currently receiving treatment nationwide—NACA DG

Nigeria’s National Agency for the Control of AIDS (NACA), Director General, Dr....

ECOWAS and The Gambia – Preventing Another Dangerous Slide

By Paul Ejime Eight years after ECOWAS led the international community by...

Nigeria’s Unemployment Rate Inches Up to 4.3% in Q2 2024

Nigeria’s unemployment rate experienced a slight increase to 4.3% in the second...

NNPC Ltd. Clarifies Discrepancy in Crude Oil Production Figures, Confirms 16.56% Increase in October

The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified reports of...

Africa tops global femicide table, Americas, Oceania follow closely – UN report

Latest report from the United Nations Women and UN Office on Drugs...

Breaking: Nigeria’s GDP Grows by 3.46% in Q3 2024, Outpacing Q2 Growth

Nigeria’s economy has shown resilience with a 3.46% growth in its Gross...

NEC Urges States to Adopt Local Technology to Drive Industrialization

The National Economic Council (NEC) has called on state governments to adopt...

Updated: Driver narrowly escapes death as container falls on car in Lagos, the 7th in 2024

A driver was rescued by the Lagos State Traffic Management Authority (LASTMA)...

Nigeria, Brazil Sign Landmark MoU to Boost Agribusiness

The Nigerian Government has signed a Memorandum of Understanding (MoU) with Brazil’s...

Just in: Again in Lagos, unstrapped container falls on vehicle at Mile 2, trapping occupants

Lagos is in the news again for unstrapped containers falling on hapless...

Full Privatization of Nigeria’s Refineries Underway – Presidency

The Presidency has announced plans for the complete privatization of Nigeria’s state-owned...

Staggering N197.72bln in irregular contract payments uncovered at MDAs – Auditor-General

A recent report by the Auditor-General of the Federation has uncovered a...

Fatal Islington sword attack: London teenager Tate bags 22 years

A teenager, Sanchez Tate, 18, has been sentenced to 22 years in...

With extant appeal, Rivers Govt.’ll be given its monthly federal allocation – FG

The Office of the Accountant-General of the Federation has reacted to the...

FG urged to promote national unity, social cohesion using community-based events, initiatives

The Federal Government has been urged to take a more active role...

Carjacking in FCT: Police recover Land Cruiser Prado after high-speed hot chase

In a swift response to a distress call, the Federal Capital Territory...

Just in: Abuja Court remands 109 alleged foreign hackers in prison

No fewer than 109 alleged foreign hackers, including females who attempted to...