President Bola Tinubu has inaugurated the new board of the Nigerian National Petroleum Company Limited (NNPCL) and charged them to use their wealth of experience to turn the country’s economy around.
President Bola Tinubu inaugurated the newly appointed board of the Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday in Abuja, tasking them with building on the momentum of ongoing economic reforms that have drawn both local and international praise for enhancing the resilience and competitiveness of Nigeria’s economy.
“It took time to find individuals of your calibre,” the President said. “You represent the best the industry has to offer. You have the reputation, resourcefulness, and experience to contribute meaningfully to national progress. This is a call to duty.”
According to a statement by presidential spokesman Bayo Onanuga, Tinubu expressed confidence in the board’s ability to deliver on its mandate. “The reforms are working. Nigeria is becoming more competitive and has reached a turning point. With a team like yours in place, I can focus on other pressing issues. Thank you for accepting this responsibility.”
The President urged the board to explore all options that ensure mutually beneficial outcomes for the country. “I am proud of you. I believe you will succeed,” he added.
Highlighting the global economic challenges, Tinubu emphasized the need for inward-looking solutions and stressed the pivotal role of NNPC Ltd. in repositioning the nation’s energy sector.
Speaking at the event, Minister of State for Petroleum Resources, Heineken Lokpobiri, praised the quality of the new board, describing them as “the best in Africa.”
“I’ve received calls from across the continent, including from my colleagues in OPEC. The message is clear: if this team doesn’t deliver, Nigeria may have to import experts from another planet,” Lokpobiri joked, underlining the high expectations for the board.
Board Chairman Ahmadu Kida, expressed gratitude to the President for the opportunity to serve. “We’ve already begun laying the groundwork, holding biweekly meetings with key stakeholders in line with the mandate you’ve given us,” he said.
Speaking at the inauguration, Group Chief Executive Officer of NNPC Ltd., Bashir Ojulari, stated that the management team has already engaged with key industry stakeholders to assess ongoing operations and strengthen business relationships.
Ojulari reported that efforts to optimize various aspects of the company are underway, including the turnaround maintenance of the country’s refineries.
He also noted a steady increase in crude oil production, rising from 1.5 million barrels per day to 1.7 million barrels in just two months, with a year-end target of 1.9 million barrels.
“We will only make promises we can keep — and we will deliver on every promise,” he affirmed.
