PRESIDENT BUHARI DEMANDS TRANSPARENCY, ACCOUNTABILITY FROM NEW NNPC BOARD

President Muhammadu Buhari Friday in Abuja urged the Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited to ensure strict compliance with Corporate Governance principles that place premium on doing business with the highest ethical standards, integrity, and transparency.

Inaugurating the Board chaired by Senator Margery Chuba Okadigbo, the President charged 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.

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.

''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.

''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 said.

President Buhari 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.

In his remarks, the Minister of State, Petroleum Resources, Timipre Sylva, said under the present administration a lot has been achieved 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,'' he said.

The following Board members were inaugurated: Senator Okadigbo, Chairman, 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), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South South), Chief Pius Akinyelure (South West), Dr Nasir Sani Gwarzo, Permanent Secretary, Ministry of Petroleum Resources and Aliyu Ahmed, Permanent Secretary, Minister, Finance, Budget and National Planning.

Femi Adesina
Special Adviser to the President
(Media & Publicity)
January 7, 2022

President Muhammadu Buhari inaugurates the Board of Directors of Nigeria National Petroleum Company (NNPC) in State House on 7th Jan. 2022

President Buhari flanked by L-R: NNPC CEO Mele Kyari, Minister of State Petroleum Timpre Sylva, NNPC Board Chairman Margery Chuba Okadigbo, NNPC CFO Umar Ajiya, and other members of the board during the inauguration of the Board of Directors of Nigeria National Petroleum Company (NNPC) in State House on 7th Jan. 2022

: (Women in Service): Minister of State Petroleum Timpre Sylva, NNPC CEO Mele Kyari, NNPC Board Chairman Margery Chuba Okadigbo, Barr. Constance Harry Marshal and Mrs. Lami Ahmed shortly after the inauguration of the Board of Directors of Nigeria National Petroleum Company (NNPC) in State House on 7th Jan. 2022

athaboi:
Nonsense
Who's president Buhari? Does he even know what a Board means? He's just too daft to rule a nation

Truthisunique2:
L

LordviccoDaGuru:
[s][/s]

LordviccoDaGuru:
[s]

Truthisunique2:
I hope tilumbu is been carried along in all this

Buhari said he had nothing good to offer that tilumbu forced him to be president

Truthisunique2:
hand go soon meet you just few months remain

Shey Lia Mohamed don abadon zombie work for una

Revolution2022:
Is buhari a transparent human?This is a man who love cow more than human beings.

Truthisunique2:
Dem dey forbid to appoint your papa for this nnpc board to compensate your zombie work?

chibuike65:
Minister of petroleum

Please do something about enforcement of the new price of gas we still buying it at the same price as it goes up

Truthisunique2:
the dullard deputies as Minister of petroleum

She you know

Double wahala for dead body

LordviccoDaGuru:
[s][/s]

israelmao:
After failure to remit trillion of dollar.The crusader of corruption is swallowed up by corruption?Magu also has vanished into the thin air.