President Bola Tinubu has tasked the newly inaugurated NNPC Limited Board to consolidate gains from ongoing economic reforms that have earned Nigeria international recognition for resilience and competitiveness.
Speaking at Thursday’s inauguration ceremony at the State House in Abuja, President Tinubu emphasized his careful selection process for board members, describing them as representing “the best in the industry.”
“When I started searching, it took a while to come up with the kind of character that you represent. You have the reputation, resourcefulness and experience to help the country,” the President told the board members.
Tinubu highlighted that Nigeria’s economic reforms have yielded results with both local and international acknowledgment, stating that the country “has come of age” and is “now more competitive and turning the corner.”
The President stressed that global economic volatility requires inward-looking solutions, making NNPC’s repositioning crucial for national development. “Explore all options for a win-win situation for Nigeria,” he urged the board.
Minister of State for Petroleum, Heineken Lokpobiri, praised the team as “the best in Africa,” revealing he received calls from OPEC colleagues expressing confidence that “if this team does not deliver, Nigeria will have to import men from another planet.”
Board Chairman Ahmadu Musa Kida pledged to uphold “the highest standard of leadership, courage and integrity” in delivering on the President’s mandate.
Group CEO Bashir Bayo Ojulari reported significant progress, noting oil production had increased from 1.5 million to 1.7 million barrels within two months, targeting 1.9 million barrels by year-end.
Ojulari confirmed that management has begun optimizing company operations, including refinery turnaround maintenance, while assuring that NNPC Limited would operate as a business entity.
