Lead Nigeria’s Economic Turnaround, Tinubu Tells NNPC Board

President Bola Tinubu has urged the new board of the Nigeria National Petroleum Company Limited (NNPCL) to consolidate the gains of the ongoing economic reforms, which have attracted commendations for the resilience and competitiveness of the Nigerian economy.

At the inauguration of the NNPC Limited Board at the State House on Thursday in Abuja, the President, in a statement by his spokesman, Bayo Onanuga, said he selected the board members painstakingly to ensure quality leadership.

“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.

“I believe you are among the best the industry can offer,” he said.

President Tinubu said the ongoing economic reforms have yielded results, with local and international acknowledgements.

“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 your country and our dear country,” the President stated.

President Tinubu told the Board that the
volatility in the world’s economy will require looking inward for solutions, and Nigerians will depend on repositioning the NNPC Ltd.

President Tinubu added, “Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed.”

Minister of State for Petroleum, Heineken Lokpobiri, thanked the President for assembling the team he described as the best in Africa.

“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 said.

The chairman of the Board, Ahmadu Musa Kida, thanked the President for the opportunity to serve the country.

He said the new Board would uphold the highest standard of leadership, courage and integrity in delivering on the President’s mandate.

The Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, said the team had already met with industry stakeholders to review operations and business relationships.

“We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with a bi-weekly meeting with stakeholders,” he said.

Ojulari noted that the management had started optimising various aspects of the company, including the turnaround maintenance of the refineries.

He said production had risen to 1.7 million barrels in two months from 1.5 million barrels, with the target of reaching 1.9 million barrels by year-end.

“We will promise what we can deliver, and we will deliver on our promise,” he added.

Ojulari also said the President’s economic reform had sent the right signals to attract foreign direct investments.