Senator Ifeanyi Ararume has been named chairman of the board of the Nigerian National Petroleum Company (NNPC) after the federal government led by President Buhari led the founding of the organization.
The incorporation of the NNPC is in line with Section 53 (1) of the Petroleum Industry Act 2021, which obliges the Minister of Petroleum Resources to incorporate. to initiate the company in six months after the start of the PIA.
Mele Kolo Kyari, the group executive director of the NNPC, is the board’s chief executive officer, while Umar I. Ajiya. was appointed Chief Financial Officer, reports Premium Times.
Other board members are listed below:
1. Tajudeen Umar
2. Lami O. Ahmed
3. Mallam Mohammed Lawal
4. Senator Margaret Chuba Okadigbo
5. Barrister Constance Harry Marshal
6. Chief Pius Akinyelure
A statement by Presidential Media Aide Femi Adesina on the President’s directive reads in part:
“President Muhammadu Buhari in his capacity as Minister of Petroleum Resources, directed the establishment of Nigerian National Petroleum Company Limited.
“This is in accordance with Section 53 (1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to establish the NNPC Limited within six months of the entry into force of the law in consultation with the Minister of Finance regarding the nominal shares of the company.
“The Group Managing Director of NNPC, Mr. Mele Kolo Kyari, has therefore been instructed to take the necessary steps undertake to ensure that the formation of NNPC Limited is in line with the provisions of PIA 2021. “
FG announces plan to abolish NNPC within of 6 months, established d ecision
Meanwhile the federal government intended to abolish the Nigerian National Petroleum Corporation.
Kyari said on Monday August 16th that the Nigerian oil company would cease to exist within the next six months.
He said a new company would be known as the CAMA Company , under which Company Allied Matters is founded and operated.
He stated that due to the PIA, all liabilities and assets of the NNPC will be transferred to the new company.
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