*President Bola Ahmed Tinubu urges the new Board of the Nigerian National Petroleum Company Limited to consolidate the gains of his administration鈥檚 ongoing economic reforms

Isola Moses | 绿帽献妻

President Bola Ahmed Tinubu urged the new Board of the Nigerian National Petroleum Company Limited (NNPCL) to consolidate the gains of the ongoing economic reforms.

Tinubu, who stated this Thursday, May 21, 2025, during the inauguration of the new Board, in Abuja, FCT, said the reforms had attracted commendations for the resilience and competitiveness of the Nigerian economy.

The President also noted that he selected the Board members painstakingly, in order to ensure quality leadership in the state oil company.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, quoted President Tinubu to have said: “When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you.

“You have the reputation, resourcefulness and experience to help the country. It is a call to duty for you.

“I believe you are among the best the industry can offer.鈥�

According to the President, the ongoing economic reforms have yielded results, with local and international acknowledgements.

Tinubu further asserted: “Nigeria has come of age. It is now more competitive and turning the corner, and with your highly respected team, I can relax and attend to other issues.

鈥淭hank you for accepting the opportunity to serve your country and our dear country.鈥�

He equally told the Board that the volatility in the world’s economy will require looking inward for solutions, and Nigerians will depend on repositioning the NNPC Limited.

“Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” he said.

Speaking at the inauguration event also, Senator Heineken Lokpobiri, Honourable Minister of State for Petroleum, thanked the President for assembling the team he described as the best in Africa.

Lokpobiri said: “I got calls from the whole of Africa, my colleagues in OPEC, saying that if this team does not deliver, Nigeria will have to import men from another planet to come and deliver the oil and gas sector in Nigeria.鈥�

Ahmadu Musa Kida, Chairman of the new NNPCL Board, thanked the President for the opportunity to serve the country.

Kida said the Board of the oil company would uphold the highest standard of leadership, courage and integrity in delivering on the President’s mandate.

Engr. Bashir Bayo Ojulari, Group Chief Executive Officer (GCEO) of NNPC Limited, said the team had already met with industry stakeholders to review operations and business relationships.

Ojulari stated: “We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with a bi-weekly meeting with stakeholders.鈥�

The GCEO also noted that the Management had started optimising various aspects of the company, including the turnaround maintenance of the refineries.

He also revealed that the country鈥檚 crude production had risen to 1.7 million barrels in two months, from initial 1.5 million barrels, with the target of reaching 1.9 million barrels by the end of 2025.

The NNPCL Chief stated: “We will promise what we can deliver, and we will deliver on our promise.鈥�

Ojulari as well affirmed that President Tinubu鈥檚 economic reforms have sent the right signals to attract Foreign Direct Investments (FDIs).

He assured us that NNPC Limited would operate as a business in the downstream petroleum sector of the Nigerian economy.

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