President Bola Tinubu has called upon the Board of the Nigerian National Petroleum Company Limited (NNPCL) to promptly embark on their responsibilities, cautioning against any lapses in performance.
Inaugurating the Board at the State House in Abuja on Monday, President Tinubu stressed that he would not tolerate non-performance, and emphasized that any conduct reflecting a sense of entitlement would be met with zero tolerance. He further warned that the Board could be dissolved without prior notice if excellence in performance was not sustained.
Addressing the issue of corporate governance, President Tinubu acknowledged ongoing efforts to enhance the country’s security situation. He commended the Chief Executive Officer Kyari for his commendable work but underscored the need for sustained excellence. He noted, “It is my honor to inaugurate this Board, which comprises individuals of great integrity. I recognize all of you.”
President Tinubu also highlighted the imperative of corporate social responsibility in the Niger Delta, emphasizing the region’s significance as the economic powerhouse of the nation. He urged the need for quality water supply, schools, medical facilities, and roads, stating, “It is not about us. It is about the well-being of the entire country and the lifeblood of the nation.”
Emphasizing the commitment to cleaner energy, President Tinubu directed more attention to be given to gas as Nigeria transitions. He cited the importance of understanding the Petroleum Industry Act (PIA) and urged the Cabinet members and Board to strategize for production increase, profitability, and effective governance. He concluded by expressing his readiness to collaborate with the Board.
In response, Chief Pius Akinyelure, the Chairman of the Board, expressed gratitude to the President for the decisive removal of the petrol subsidy, averting potential financial crises. He affirmed the Board’s focus on increasing production and addressing issues of stealing and pipeline vandalization in the Niger Delta, pledging to build upon past efforts to achieve these goals.
