President Muhammadu Buhari has named Senator Ifeanyi Ararume as Nigerian National Petroleum Company Limited Board Chairman. He also appointed Mele Kolo Kyari and Umar I. Ajiya as Chief Executive Officer, and Chief Financial Officer, respectively.

The president also ordered the incorporation of NNPC Limited in line with the provision of the Petroleum Industry Act (PIA).

In a statement by Special Adviser to the President on Media and Publicity, Femi Adeshina on Sunday, the President in his “capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited”.

Adeshina explained that “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.

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