Buhari Appoints Board Members For NNPC Limited [SEE FULL LIST]

President Muhammadu Buhari has ordered that the Nigerian National Petroleum Company, or NNPC, be turned into a company.

Mele Kyari, the NNPC Group Managing Director, received the order from Buhari.

In a statement made on Sunday, his spokesman, Femi Adesina, revealed the president’s directive.

Adesina said the president’s directive was 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 Group Managing Director of the NNPC, Mr Mele Kolo Kyari, has, therefore, been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.

“Also, by the power vested in him under Section 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the company.”

Buhari’s move was justified by applicable constitutional requirements, according to the presidential spokesman.

According to the statement, the president has reserved the position of Minister of Petroleum Resources for himself.

Senator Ifeanyi Ararume and Kyari were among the NNPC board members selected by the president.

Senator Ifeanyi Ararume was named Chairman of the Board, Mele Kolo Kyari was named Chief Executive Officer, and Umar Ajiya was named Chief Financial Officer by President Muhammadu Buhari.

Others Buhari appointed include; “Tajudeen Umar (North East), Lami Ahmed (North Central), Mohammed Lawal (North West), Margaret Chuba Okadigbo from South East, Constance Harry Marshal also from the South South, and Pius Akinyelure (South West),” the statement said.