President Muhammadu Buhari has urged the board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited to ensure strict compliance with corporate governance principles that place premium on doing business with the highest ethical standards, integrity, and transparency.
The President said this on Friday while inaugurating the board chaired by Senator Magaret Okadigbo at the State House, Abuja.
The President charged members of the board to focus on profitability and operate at par with its industry peers across the world.
The President reminded the Board members that they came on board as a result of the reforms put forward by the Petroleum Industry Act (PIA) 2021, which seeks to reposition the Nigerian petroleum industry to a commercially viable and competitive industry in line with global business dynamics and best practices.
President Buhari directed that there should be full alignment and synergy between NNPC Limited, the Upstream Regulatory Commission and the Midstream & Downstream Regulatory Authority in compliance with the provisions of the law in all respects to deliver the onerous reforms envisaged for the energy industry.
While thanking the leadership and members of the National Assembly for their seamless support in the journey towards a viable, accountable and transparent energy industry, the President said he would count on the professional insights and ethical conduct of the Board members to ensure the delivery of his administration’s promises to Nigerians.
In his remarks, 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 NNPC Limited.
The Board members inaugurated are : 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), Engr. Henry Obih (South East), Barrister 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.