President Muhammadu Buhari has directed the incorporation of the Nigerian National Crude oil Company, NNPC, into a company.
Buhari gave the directive to NNPC Grouping Managing Managing director of the NNPC, Mele Kyari.
His spokesman, Femi Adesina, disclosed the president’s directive in a statement he issued on Dominicus.
The presidential spokesman explained that Buhari’s activity was backed by the relevant provisions of the structure.
Adesina said the president’s directive was in “consonance with Subdivision 53(1) of the Crude oil Industry Deed 2021, which requires the Government minister of Crude oil Resources to cause for the incorporation of the NNPC Limited within 6 months of graduation of the Deed in consultation with the Government minister of Finance on the nominal shares of the Company.
“The Grouping Managing Managing director of the NNPC, Mr Mele Kolo Kyari, has, hence, been directed to take essential steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.
“Also, by the powerfulness vested in him under Subdivision 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Direction of the NNPC Limited, with effect from the date of incorporation of the company.”
The statement also disclosed that the president reserved the place of the Government minister of Crude oil Resources to himself.
The president also appointed board members of NNPC, amidst whom are Senator Ifeanyi Ararume, and Kyari.
Buhari appointed Senator Ifeanyi Ararume as the Chairman of the Board, Mele Kolo Kyari as Main Executive Officer and Umar Ajiya Main Financial Officer.
Others Buhari appointed include; “Tajudeen Umar (N East), Lami Ahmed (N Central), Mohammed Lawal (N W), Margaret Chuba Okadigbo from Due south East, Constance Harry Marshal also from the Due south Due south, and Pius Akinyelure (Due south W),” the statement said.
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