President Muhammadu Buhari has advised the new board of Nigerian National Petroleum Company (NNPC) Limited to carry out their duties with the highest ethical standards.
The Nigerian leader also admonished the board members to be transparent and be accountable in their dealings, while ensuring strict compliance with corporate governance principles.
President Buhari made this known on Thursday during the inauguration of the board, headed by Margret Chuba Okadigbo, at the Presidential Villa in Abuja.
In a statement released by his spokesman, Femi Adesina, the President charged the members to focus on profitability and operate at par with its industry peers.
He also commended the National Assembly for their seamless support in the journey towards a viable, accountable and transparent energy industry.
He said: ”I expect the NNPC Limited to be mindful of our commitments to our net carbon zero aspirations and to ensure total alignment with the global energy transition realities.
“The Nigerian National Petroleum Company Limited is mandated to focus on profitability and continuous value creation beyond the simple fulfilment of legal and regulatory requirements.
”NNPC Limited is expected to operate at par with its industry peers across the world while acting as enabler company that will foster the development of other sectors of our economy.”
The president said the inauguration marks a major milestone in the transition to a more viable petroleum industry made possible by the Petroleum Industry Act (PIA) 2021.
”The inauguration of this board is a major step in the ongoing transition to a more viable petroleum industry that will attract investment to support our economic growth and generate employment for millions of our people.
“I would count on the professional insights of the board members to ensure the delivery of his administration’s promises to Nigerians,” Buhari said.
Members of the board include Margret Chuba Okadigbo (Chairman); NNPC Chief Executive Officer, Mele Kolo Kyari; Chief Financial Officer, Umar I. Ajiya; Tajudeen Umar (North East); Lami O. Ahmed (North-Central); Mohammed Lawal (North West); Henry Obih (South East); Constance Harry Marshal (South South) and Pius Akinyelure (South-West).
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