President Bola Ahmed Tinubu has tasked the newly inaugurated board of the Nigerian National Petroleum Company (NNPC) Limited with the responsibility of strengthening Nigeria’s economic recovery through strategic leadership and industry expertise. Speaking during the official inauguration ceremony at the State House in Abuja, President Tinubu expressed confidence in the board’s ability to consolidate the gains of ongoing economic reforms and reposition NNPC as a key player in Nigeria’s growth.
According to the President, the selection of the NNPC board members was done with utmost care to ensure that only individuals with strong character, industry knowledge, and proven track records were appointed. He described the board members as the best the sector has to offer and emphasized the importance of their role in sustaining the momentum of the country’s reform-driven competitiveness. “You have the reputation, experience, and resourcefulness to make a difference. This is a national call to duty,” Tinubu stated.
Highlighting the importance of looking inward for economic solutions amid global volatility, President Tinubu encouraged the NNPC board to explore strategic partnerships and initiatives that ensure win-win outcomes for Nigeria. He also praised recent improvements in investor confidence and economic resilience, which have been attributed to his administration’s reforms. “Nigeria is more competitive and is turning a corner. I believe this board will play a critical role in building on this progress,” he added.
Minister of State for Petroleum Resources, Heineken Lokpobiri, commended the President for assembling what he called the best oil and gas team in Africa. He relayed positive feedback from international stakeholders, including OPEC members, who expressed high expectations for the NNPC board’s performance. Board Chairman Ahmadu Musa Kida and Group Chief Executive Officer Bashir Bayo Ojulari both pledged to uphold excellence, transparency, and stakeholder engagement in delivering the NNPC’s mandate.
Ojulari revealed that production levels had risen to 1.7 million barrels per day within two months, with a target of reaching 1.9 million barrels by year-end. He noted that the board has already commenced stakeholder meetings and refinery optimization initiatives under a clear strategic direction. He affirmed that NNPC Ltd will continue to function as a commercial entity focused on growth, efficiency, and attracting foreign direct investment into Nigeria’s oil and gas sector.
