*The Federal Government says President Muhammadu Buhari has approved the incorporation and appointment of Board members of the Nigerian National Petroleum Company Limited in accordance with the Petroleum Industry Act 2021

Gbenga Kayode | 绿帽献妻

In accordance with the provision in the Petroleum Industry Act (PIA) 2021 he signed into law recently, President Muhammadu Buhari has approved the incorporation, and appointment of the Board and Management of the Nigerian National Petroleum Company Limited.

绿帽献妻 reports President Buhari has made Senator Ifeanyi Ararume as Chairman of the new firm.

Mr. Femi Adesina, Special Adviser to the President on Media and Publicity, who announced this development in a statement issued Sunday, September 19, 2021, in Abuja, FCT, said Buhari so directed that the Nigerian National Petroleum Company Limited be incorporated in line with the PIA 2021.

Malam Mele Kyari, Group Managing Director of NNPC

The statement noted the President has also appointed Malam Mele Kyari, Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), as the Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited.

The Federal Government in the statement said: 鈥淭his 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.鈥�

According to Adesina, the NNPC GMD has been directed to take necessary steps to ensure that the incorporation of the oil company is consistent with the provisions of the PIA 2021.

Senator Ifeanyi Ararume will serve as the Chairman of the Board, with Umar I. Ajiya being the Chief Financial Officer, said the statement.

It added that besides Malam Kyari, other Board members are Dr Tajudeen Umar (North-East), Mrs. Lami O. Ahmed (North-Central), Malam Mohammed Lawal (North-West), Senator Margaret Chuba Okadigbo (South-East), Barrister Constance Harry Marshal (South South) and Chief Pius Akinyelure (South-West).