President Muhammadu Buhari has directed the incorporation of the Nigerian National Petroleum Company Limited, the State House has announced.

A statement on Sunday issued by Special Adviser to the President (Media and Publicity), Femi Adesina, said the president gave the order in his capacity as Minister of Petroleum.

“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 said.

The statement said the Group Managing Director of the NNPC, Mr Mele Kolo Kyari, had been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.

President Buhari has also approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the company.

The President named Senator Ifeanyi Ararume aa Chairman of the Board while Mele Kolo Kyari and Umar I. Ajiya were appointed as 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).

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,

seunmsg:
Good development and congratulations to Senator Ifeanyi Ararume from Imo state. I guess this is a direct benefit of Hope Uzodinma’s relationship with the president.

SEGLIZ:
nice move.
sis I sight you, how the go is going on your side?

post=105970181]
Very Very Good move[/quote]
sis I sight you, how the go is going on your side?

[quote author=chinjo:
Whether it is incorporated or not one thing I am sure of is that, it will still lead to sorror and tears on Nigerians because this present administration derives pleasure in making Nigerians cry.

SEGLIZ:
nice move.

chinjo:
Whether it is incorporated or not one thing I am sure of is that, it will still lead to sorror and tears on Nigerians because this present administration derives pleasure in making Nigerians cry.

Okoroawusa:

You see someone that his name is Chi njo and you want him to be happy?

Na wa for you o!

Mele Kolo Kyari and Umar I. Ajiya were appointed as Chief Executive Officer and Chief Financial Officer respectively.