Buhari inaugurates NNPC Board, outlines guidelines for operations

January 8, 2022
3 Views

ABUJA – President Muhammadu Bu­hari on Friday inaugurated the Board of the Nigerian National Petroleum Corporation (NNPC) Limited, just as he reeled out a number of operational guide­lines which they mustard here to.

First among the guidelines handed down to the board chaired by Senator Margret Chu­ba Okadigbo is to comply strict­ly with Corporate Governance principles, including making sure that they do business with the highest ethical standards, integrity, and transparency.

The Presidential so tasked the board on profitability as well as to operate under global best prac­tices.

Read also…

According to Buhari, “the need to adhere to commitments on zero carbon emissions is also sacrosanct because it aligns with the global energy transition re­alities”.

The Presidency also reiterat­ed that the reforms in the Cor­poration were as a result of the Petroleum Industry Act (PIA) signed into law in 2021.

Among those inaugurated to drive the reform process includes 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), Henry Obih (South East), 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.

Buhari also noted that his vi­sion is to reposition the Nigerian petroleum industry to be com­mercially viable and competi­tive 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 ful­fillment 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,” he noted.

Meanwhile, 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 company.

You may be interested

Father trapped in septic tank dies with son trying to rescue him
News
News

Father trapped in septic tank dies with son trying to rescue him

Webby - January 16, 2022

Spread the loveRumuekini, in Obio Akpor Local Government Area of Rivers, has witnessed a tragedy: a father and his son…

North rejects zoning presidency to South
News
1 views
News
1 views

North rejects zoning presidency to South

Webby - January 16, 2022

• Says 2023 Polls Should Be Open To Competent, Credible Candidates Rising from an emergency meeting of Northern Leaders of…

Lekan Balogun is next Olubadan — Ladoja, Kingmakers
News
14 views
News
14 views

Lekan Balogun is next Olubadan — Ladoja, Kingmakers

Webby - January 16, 2022

• Group Seeks End To Comments Over Vacant Stool The Olubadan-in-Council, a conclave of Ibadan High Chiefs, also known as…

Leave a Comment

Your email address will not be published.