On Monday, December 18, President Bola Tinubu gave the Nigerian National Petroleum Company (NNPC) Limited Board a task list and warned members that failure to meet deadlines would not be accepted.
President Tinubu issued a warning during the inauguration, saying that actions implying a sense of entitlement would not be accepted and that non-performance might result in the board’s dissolution without prior notice to members.
According to a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President said: “The challenge is corporate governance. Yes, we will improve the security situation. We are working very hard. Sincerely, the Chief Executive Office, Kyari, is doing very well, and doing all that I know.
“But you could be suddenly dissolved if there is no sustained excellence in performance. It is my honour to inaugurate this Board, which has people of great integrity. I am honoured that we are doing this. I recognize all of you,’’ he said.
Given the severe environmental impacts of oil exploration and extraction, President Tinubu stated that corporate social responsibility for the Niger Delta must be addressed seriously.
“Niger Delta must be seen as the goose that lays the golden egg, and we must treat that region with the deserved respect and care. It is not asking for too much to ensure quality and constant water supply, schools, medical facilities, and roads.
“It is not about us. It is about the well-being of the entire country and the lifeblood of the nation. We should care more about the environment. We will do more for security to minimize stealing and vandalization,’’ he stated.
The President directed that more attention should be given to gas as Nigeria transitions to cleaner energy, adding: “We need to show that we are committed to the welfare of our country.”
“Take a look at the Petroleum Industry Act (PIA), and know what the pitfalls are. The Cabinet members and Board should decide what we can do differently for production increase, profitability, and governance. It is in your hands. I will work with you,’’ he said.
In his remarks, the Chairman of the Board, Chief Pius Akinyelure, commended the President for the removal of petrol subsidy, noting that the nation would have drowned in debt, but for his decisiveness.
