President Bola Tinubu has urged the new Nigerian National Petroleum Company (NNPC) Limited board to consolidate the gains of the ongoing economic reforms.
Tinubu told the board members that the
volatility in the world’s economy will require looking inward for solutions, saying 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,” the president said at the inauguration of the NNPC Limited board at the State House in Abuja on Thursday, May 22, 2025.
Tinubu added that he selected the board members painstakingly to ensure quality leadership.
He stated: “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.
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“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. Thank you for accepting the opportunity to serve your country and our dear country.”
The Chairman of the Board, Ahmadu Musa Kida, thanked the president for the opportunity to serve the country.
He said the new board would uphold the highest standard of leadership, courage, and integrity in delivering on the president’s mandate.
The Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, said the team had already met with industry stakeholders to review operations and business relationships.
“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,” he said.
Ojulari noted that the management had started optimising various aspects of the company, including the turnaround maintenance of the refineries.
He said production had risen to 1.7 million barrels in two months from 1.5 million barrels, with the target of reaching 1.9 million barrels by year-end.
“We will promise what we can deliver, and we will deliver on our promise,” the NNPC Limited boss added.
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