President Muhammadu Buhari has appointed new members for the board of
the Nigerian National Petroleum Corporation (NNPC). This directive
effectively incorporated the Corporation.
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.
The names of the Board members are as follows: Chairman of the Board
is Senator Ifeanyi Ararume, while Mele Kolo Kyari and Umar I. Ajiya
are Chief Executive Officer, and Chief Financial Officer,
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).
A statement signed by the Special Adviser to the President on Media
and Publicity, Femi Adesina, stated that the Group Managing Director
of the NNPC, Mr Mele Kolo Kyari, has, therefore, been directed to take
necessary steps to ensure that the incorporation of the NNPC Limited
is consistent with the provisions of the Petroleum Industry Act (PIA)
According to him, 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.