President Bola Tinubu inaugurated the Board of the Nigerian National Petroleum Company Limited, tasking its members to prioritize excellence and corporate governance. In a statement by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, Tinubu warned the board against non-performance, emphasizing that sustained excellence is non-negotiable.
Tinubu underscored the need for improved corporate governance alongside optimizing Nigeria’s security architecture to enhance the board’s performance. Stressing the importance of the Niger Delta region, he highlighted the necessity of corporate social responsibility to address the environmental impact of oil exploration and exploitation, emphasizing the region’s significance in Nigeria’s economic landscape.
Emphasizing a shift towards cleaner energy, Tinubu urged the board to explore the potential of gas production, aligning with the country’s transition to sustainable energy sources.
The Chairman of the Board, Pius Akinyelure, commended Tinubu for the removal of petrol subsidy and expressed the board’s commitment to boosting oil production. The NNPCL aims to increase crude oil production to two million barrels per day in 2024, aligning with OPEC’s targets. However, achieving this goal necessitates addressing challenges such as pipeline vandalism and oil theft, requiring a comprehensive overhaul of Nigeria’s security architecture.
The board’s ambition extends beyond production targets, as it seeks to position Nigeria as a global leader in the oil and gas industry, competing with leading companies worldwide. Dr. Eunice Thomas, the only female member of the board, emphasized the transition from fossil fuels to sustainable green energy, highlighting the board’s dedication to powering Nigeria and industrializing energy.
The inauguration of the board, which includes seasoned professionals across various fields, signals a new era for the NNPCL, as it embarks on a transformative journey to revolutionize Nigeria’s oil and gas sector.
As Nigeria navigates the complexities of oil production, the NNPCL remains at the forefront, driven by a vision that extends beyond production numbers to encompass sustainability, environmental stewardship, and global competitiveness.
