Pursuant to the Petroleum Industry Act, and in his capacity as minister of petroleum Resources, President Muhammadu Buhari has directed the incorporation of the NNPC Limited, the Nigerian National Petroleum Company Limited.
This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company.
Also, by the power vested in him under Section 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the Company.
PREMIUM TIMES reports that Senator Ifeanyi Ararume is the chairman of the Board, while Mele Kolo Kyari and Umar I. Ajiya are chief executive officers and chief financial officers, respectively.
Other Board Members are; Dr. Tajudeen Umar (North East), Mrs. Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South-South), and Chief Pius Akinyelure (South West).
