Tinubu charges NNPC Board to drive economic recovery with industry expertise

President Bola Tinubu has tasked the newly inaugurated Board of the Nigerian National Petroleum Company Limited (NNPC Ltd) to build on the momentum of ongoing economic reforms and play a pivotal role in repositioning Nigeria’s economy.

Speaking at the inauguration held on Thursday at the State House, Abuja, President Tinubu stated that the Board members were carefully chosen for their exceptional leadership qualities and vast industry experience. “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,” he said.

The President noted that the ongoing reforms have already begun yielding positive outcomes, both locally and internationally. “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 our dear country,” he added.

President Tinubu emphasised the importance of local solutions in navigating global economic volatility, urging the NNPC Ltd Board to explore every option for the nation’s benefit. “I am so proud of you and believe you will succeed,” he assured.

The Minister of State for Petroleum, Heineken Lokpobiri, also commended the President for assembling what he described as the best team in Africa for the job. “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,” he remarked.

In his address, Board Chairman Ahmadu Musa Kida thanked the President for the confidence reposed in the team, promising to uphold integrity, courage and sound leadership in discharging their duties.

Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, disclosed that the management has already engaged stakeholders to align on operations and business relationships. He revealed that oil production had risen from 1.5 million to 1.7 million barrels within two months, with a target of reaching 1.9 million barrels per day by the end of the year. “We will promise what we can deliver, and we will deliver on our promise,” Ojulari said.

He further noted that the President’s reforms had sent the right signals to foreign investors and assured that NNPC Ltd would operate with a business-driven approach.