President Muhammadu Buhari sets agenda for newly newly incorporated board of Nigerian National Petroleum Company (NNPC) Limited.
Written by News Room on January 9, 2022
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.
Inaugurating the board led by Mrs. Okadigbo, yesterday, in Abuja, the President charged them to focus on profitability and operate at par with its peers across the world.
The President reminded the board members that they emerged 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 had, last Wednesday, dropped Senator Ifeanyi Araraume as NNPC Limited Board Chairman.
In his place, the President announced the appointment of Senator Margery Chuba Okadigbo, wife of the late President of the Senate, Chuba Okadigbo, as Chairman.
Buhari had, in September 2021, announced the composition of the board and management of the company with Araraume as chairman, but did not inaugurate them.