President Muhammadu Buhari has directed that Nigerian National Petroleum Company (NNPC) Limited be incorporated. President Buhari has also approved the appointment of the board and management of the NNPC. This was made known in a statement by the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina, who stated that the President made the appointments in accordance with the Petroleum Industry Act (PIA) 2021.
The statement reads, “President Muhammadu Buhari, in his capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited.
“This is 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.”
The statement also disclosed that the Group Managing Director of the NNPC, Mr. Mele Kolo Kyari is to ensure that the incorporation of NNPC Limited is in line with the provisions of the PIA 2021.
The statement further read, “Chairman of the Board is Senator Ifeanyi Ararume, while Mele Kolo Kyari and Umar I. Ajiya are Chief Executive Officer and Chief Financial Officer respectively.”
Other appointed board members include; Dr. Tajudeen Umar (North East), Mallam Mohammed Lawal (North West), Mrs. Lami O. Ahmed (North Central), Barrister Constance Harry Marshal (South-South), Senator Margaret Chuba Okadigbo (South East), and Chief Pius Akinyelure (South West).