President Buhari Approves Incorporation of NNPC Ltd, Appoints Board Members


President Muhammadu Buhari has approved the appointment of Ifeanyi Ararume as Chairman of the Nigerian National Petroleum Company Limited’s Board of Directors and Management.

The President also named Mele Kolo Kyari and Umar I. Ajiya as Chief Executive Officer and Chief Financial Officer respectively.

A statement by Special Adviser to the President on Media and Publicity, Femi Adesina on Sunday said the President in his “capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited”

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“This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company.”

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According to Adesina, the Group Managing Director of NNPC, Mr Mele Kolo Kyari, had been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.

He added that other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).

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