President Tinubu Issues Directives and Targets for Nigerian National Petroleum Company Limited Board"

By Gloria Ogbonna

President Bola Tinubu recently inaugurated the Board of the Nigerian National Petroleum Company Limited (NNPCL) with strict directives, emphasizing the need for immediate action and efficient performance. 

He stressed that the Board's members should adhere to high standards, cautioning against non-performance and displaying a sense of entitlement, which could lead to the Board's dissolution.

During the inauguration ceremony at the State House, Abuja, President Tinubu highlighted the importance of optimizing Nigeria's security architecture to enhance the Board's effectiveness. 

He emphasized corporate social responsibility for the Niger Delta, emphasizing the region's significance as the country's oil-producing hub. 

President Tinubu underscored the need for sustainable practices, infrastructure, and security measures to curb theft and environmental degradation.

The President directed the Board's attention toward transitioning to cleaner energy sources, particularly focusing on gas as Nigeria's energy landscape evolves. Stressing the importance of commitment to national welfare, Tinubu urged a comprehensive review of the Petroleum Industry Act and called for innovative strategies to boost production, profitability, and governance.

Chairman of the Board, Pius Akinyelure, applauded the removal of petrol subsidy and expressed aspirations to increase oil production to two million barrels per day by 2024. However, Akinyelure acknowledged that meeting this target would demand an overhaul of Nigeria's security apparatus to combat pipeline vandalism and oil theft, major challenges that hinder the country's oil production.

The NNPCL echoed plans to elevate Nigeria's oil production by adopting stringent measures against oil theft and vandalization. The Board's focus remains on transforming the nation's energy sector and boosting economic growth while sustaining the environment.

Dr. Eunice Thomas, the sole female member, expressed determination to aid in transitioning Nigeria from fossil fuels to greener energy forms, aligning with the Board's commitment to sustainable energy solutions.

The Board, consisting of experienced professionals, aims to ensure robust performance indicators and position Nigeria as a key player in the global oil and gas industry, aiming to become a leading entity on the African continent.

Source punch