President Bola Tinubu has charged the newly inaugurated board of the Nigerian National Petroleum Company Limited (NNPC Ltd) to consolidate ongoing economic reforms and reposition Nigeria’s oil and gas sector for global competitiveness.
Speaking at the inauguration ceremony on Thursday at the State House, Abuja, Tinubu said he deliberately selected board members with sterling reputations and proven industry expertise, describing them as the “best the industry can offer.”
“When I started searching, it took a while to come up with the kind of character that you represent. You have the reputation, resourcefulness and experience to help the country. It is a call to duty for you,” Tinubu said.
The president emphasised that Nigeria is turning an economic corner and credited recent reforms for drawing both local and international commendations. “Nigeria has come of age. It is now more competitive and turning the corner,” he stated.
Tinubu stressed the need for the board to look inward for solutions amid global economic volatility, urging them to explore “win-win” strategies for Nigeria. “I am so proud of you and believe you will succeed,” he added.
Petroleum Minister of State, Heineken Lokpobiri, described the board as the best in Africa. “If this team does not deliver, Nigeria will have to import men from another planet,” he remarked, highlighting regional optimism in the team’s capabilities.
Board Chairman, Musa Kida, pledged to uphold integrity and deliver on the President’s mandate, while Group CEO Bayo Ojulari revealed that stakeholder meetings have begun and internal optimisation is underway.
Ojulari reported progress, including a boost in oil production from 1.5 to 1.7 million barrels per day, with a 1.9 million target by year-end. “We will promise what we can deliver, and we will deliver on our promise,” he assured.
He further said that the company’s refineries were undergoing turnaround maintenance and foreign investors were already responding positively to the reform signals.
