President Bola Tinubu has officially inaugurated the new board of the Nigerian National Petroleum Company Limited (NNPCL), urging members to leverage their expertise in transforming Nigeria’s economy amid global economic uncertainties.
Speaking in Abuja on Thursday, President Tinubu emphasized the importance of looking inward for solutions as global markets remain volatile, stressing that Nigerians are counting on the NNPCL to play a pivotal role in repositioning the country’s oil and gas sector.
“I carefully selected this board, and it took some time to find the calibre of individuals you represent. You embody the best in the industry. I have high expectations for you to consolidate the progress of our ongoing economic reforms,” Tinubu stated, as quoted by presidential spokesman Bayo Onanuga.
The President expressed confidence in the board’s resourcefulness and vast experience, describing it as a call to duty to help Nigeria seize new opportunities.
“You have the reputation and the skills to make a real difference. Nigeria has matured economically and is becoming more competitive on the global stage. With your team in place, I can focus on other pressing national matters, knowing the NNPCL is in capable hands,” he added.
Looking Inward Amid Global Volatility
Highlighting the challenging global economic landscape, Tinubu called on the board to explore all avenues that would create win-win outcomes for Nigeria.
“The world’s economy is unpredictable. Our strength lies in innovation and self-reliance. I am proud of you and confident in your success,” he said.
Stakeholders Show Confidence in New Board
The Minister of State for Petroleum, Heineken Lokpobiri, praised the President for assembling what he described as “the best team in Africa.”
“I have received calls from across the continent and OPEC members expressing hope that this team will deliver. If not, Nigeria might need to look beyond Earth to find replacements,” Lokpobiri joked, underscoring the high expectations placed on the board.
Meanwhile, the Board Chairman, Ahmadu Kida, expressed gratitude for the appointment and shared that the board had already begun bi-weekly consultations with key industry stakeholders.
“We have mapped out a clear direction based on the mandate from the President and have commenced our work with urgency and focus,” Kida said.
NNPCL Sets Ambitious Production Targets
The Group CEO of NNPCL, Bashir Ojulari, reported early progress, revealing that management had started optimizing operations, including the much-needed turnaround maintenance of Nigeria’s refineries.
Production, he said, had increased from 1.5 million barrels to 1.7 million barrels in just two months, with a target to reach 1.9 million barrels by the end of the year.
“Our commitment is to promise only what we can deliver—and to deliver on every promise,” Ojulari assured.
