President Muhammad Buhari has approved the appointment of new board members for the Nigerian Nigerian National Petroleum Corporation Limited.
Senator Ifeanyi Ararume was nominated as new Board Chairman of NNPC Limited.
Mele Kolo Kyari emerged the Chief Executive Officer, while Umar I. Ajiya was named Chief Financial Officer.
The Petroleum Industry Act (PIA) guides the incorporation and activities of NNPC Ltd as directed by Buhari.
Section 59(2) of the PIA 2021 gives the president such right of appointment.
Femi Adesina, President’s Special Adviser on Media and Publicity stated that “the President in his capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited. ”
Adesina 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.”
“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. ”
Adeshina added: “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). “