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NEWS UPDATE: Buhari inaugurates new NNPC board members, reads riot act

NEWS UPDATE: Buhari inaugurates new NNPC board members, reads riot act

President Muhammadu Buhari has actually reeled out a variety of standards that the brand-new board members of the Nigerian National Petroleum Company (NNPC) Limited should not flout.

While inaugurating the Board chaired by Senator Margret Chuba Okadigbo, on Thursday, the President charged them to comply strictly with Business Governance concepts, consisting of making certain that they work with the greatest ethical requirements, stability, and openness.

Beyond this, the President charged them to concentrate on success and run at par with their industry peers throughout the world.

According to Buhari, “I anticipate the NNPC Limited to be conscious of our dedications to our net carbon no goals and to guarantee overall positioning with the worldwide energy shift truths.”

He informed the Board members in plain terms that they came on board as an outcome of the reforms advanced by the Petroleum Industry Act (PIA) 2021.

Those inaugurated consist of Senator Okadigbo, Chairman, Mele Kolo Kyari, President, 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), Lawyer 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, Financing, Budget Plan and National Preparation

The President stated his vision is to rearrange the Nigerian petroleum industry to a commercially practical and competitive industry in line with worldwide company characteristics and finest practices.

” The Nigerian National Petroleum Company Limited is mandated to concentrate on success and constant worth production beyond the basic fulfilment of legal and regulative requirements.

” NNPC Limited is anticipated to run at par with its industry peers throughout the world while serving as Enabler Company that will promote the advancement of other sectors of our Economy.

” The inauguration of this Board is a significant action in the continuous shift to a more practical petroleum industry that will draw in financial investment to support our financial development and create work to countless our individuals,” he stated.

He similarly directed that there ought to be complete positioning and synergy in between NNPC Limited, the Upstream Regulatory Commission and the Midstream & & Downstream Regulative Authority in compliance with the arrangements of the law in all aspects to provide the burdensome reforms imagined for the energy industry.

” NNPC Limited is anticipated to run at par with its industry peers somewhere else worldwide while serving as enabler company that will promote the advancement of other sectors of our economy,” he specified.

On The Other Hand, the Minister of State, Petroleum Resources, Timipre Sylva, stated under today administration a lot has actually been attained in the petroleum industry, consisting of the finalizing of the PIA, the registration of NNPC Limited as a CAMA company and the inauguration of the Board of the NNPC Limited.

Buhari inaugurates new NNPC board members, reads riot act



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