President Muhammadu Buhari has approved the appointment of Senator Ifeanyi Ararume as Chairman of the Nigerian National Petroleum Company Limited's Board and Management.
This comes as the Special Adviser to the President on Media and Publicity, Femi Adesina, stated in a statement on Sunday that he has instructed that the Nigerian National Petroleum Company Limited be formed.
Mr Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), was appointed as the Chief Executive Officer, according to Adesina, who said that his boss acted in compliance with the Petroleum Industry Act 2021.
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This is in accordance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause the incorporation of the NNPC Limited in consultation with the Minister of Finance on the nominal shares of the Company within six months of the Act's commencement,” according to the statement.
According to the presidential spokesperson, the NNPC GMD has been ordered to take the required procedures to guarantee that the oil company's formation complies with the PIA 2021's requirements.
Adesina explained that Senator Ifeanyi Ararume will serve as the Chairman of the Board, with Umar I. Ajiya being the Chief Financial Officer.
Apart from Kyari, other board members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).
