The board and management of the Nigerian National Petroleum Corporation (NNPC) have been assented to by President Muhammadu Buhari.
Helming the management is Senator Ifeanyi Ararume, who will serve as chairman. Buhari also approved the incorporation of the NNPC in accordance with the Petroleum Industry Act 2021.
The statement said, “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.”
The corporation, once incorporated, will be christened the Nigerian National Petroleum Company Limited, this is according to the Special Adviser to the President on Media and Publicity, Femi Adesina, on Sunday.
He added that the corporation’s current Managing Director, Mele Kyari, was appointed as the Chief Executive Officer (CEO).
Other members of the board include Mallam Mohammed Lawal (North West); Senator Margaret Chuba Okadigbo (South East); Dr. Tajudeen Umar (North East); Lami O. Ahmed (North Central); Barrister Constance Harry Marshal (South-South); and Chief Pius Akinyelure (South West).