Shittu Oluwadamilola – Abuja
President Bola Ahmed Tinubu has charged the newly inaugurated board of the Nigerian National Petroleum Company Limited (NNPC Ltd) to drive forward the administration’s economic reform agenda, assuring them of his full confidence in their ability to reposition the energy sector and support national growth.
Speaking at the inauguration ceremony held at the State House, Abuja, President Tinubu said the board members were carefully selected based on their character, competence, and track record, urging them to explore innovative solutions to the challenges facing the nation’s oil and gas sector.
“When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you. You have the reputation, resourcefulness, and experience to help the country. It is a call to duty for you”, the President said.
Emphasizing the impact of his administration’s economic reforms, President Tinubu noted that the Nigerian economy is beginning to show signs of resilience and competitiveness, with commendations coming from both domestic and international observers.
In a statement issued by his Special Adviser on Information and Strategy Bayo Onanuga the President said “Nigeria has come of age. It is now more competitive and turning the corner, and with your highly respected team, I can relax and attend to other issues. Thank you for accepting the opportunity to serve your country and our dear country”.
The President stressed the need for the new NNPC Ltd board to embrace self-reliance and pursue a homegrown strategy to navigate the volatility of the global economy.
“Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” Tinubu added.
Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, praised the President for assembling what he described as Africa’s most capable oil and gas leadership team.
“I got calls from the whole of Africa, my colleagues in OPEC, saying that if this team does not deliver, Nigeria will have to import men from another planet to come and deliver the oil and gas sector in Nigeria,” Lokpobiri said, drawing laughter and applause from attendees.
Chairman of the newly inaugurated Board, Ahmadu Musa Kida, expressed gratitude to the President for the opportunity to serve, pledging the board’s commitment to integrity, accountability, and excellence.
“We will uphold the highest standard of leadership, courage, and integrity in delivering on your mandate,” Kida said.
Also speaking, the Group Chief Executive Officer (GCEO) of NNPC Ltd, Bashir Bayo Ojulari, disclosed that the new leadership team had already begun consultations with industry stakeholders to recalibrate the company’s direction.
“We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with a bi-weekly meeting with stakeholders”, Ojulari said.
Ojulari revealed early results of the board’s interventions, announcing an increase in oil production from 1.5 million to 1.7 million barrels per day within two months, with a target of 1.9 million barrels by year-end.
He also confirmed that turnaround maintenance of Nigeria’s refineries had begun in earnest.
“We will promise what we can deliver, and we will deliver on our promise,” the GCEO assured.
He further noted that President Tinubu’s economic reforms have signaled credibility to global investors, positioning NNPC Ltd as a business-driven entity that is ready to operate transparently and profitably.
