President Bola Tinubu has called on the newly inaugurated board of the Nigerian National Petroleum Company Limited (NNPC Ltd) to strengthen and expand the gains of his administration’s ongoing economic reforms, which continue to receive commendations from both local and global stakeholders.
Speaking during the inauguration ceremony at the State House in Abuja on Thursday, President Tinubu said the board was carefully selected to bring top-tier leadership and innovation to Nigeria’s critical oil and gas sector.
“When I started searching, it took a while to come up with the kind of character that you represent. You reflect the best in the industry. I have set goals for you, and I trust in your resourcefulness, integrity, and experience,” said Tinubu.
Highlighting the significant progress of his administration’s economic transformation agenda, Tinubu noted that Nigeria’s economy is “turning the corner” and becoming increasingly competitive on the global stage.
“Nigeria has come of age. With your highly respected team, I can relax and attend to other matters knowing the NNPC is in capable hands,” the President added.
President Tinubu emphasized that global economic volatility underscores the need for Nigeria to look inward for sustainable solutions, urging the board to explore innovative, mutually beneficial strategies that will deliver lasting results for the nation.
“Explore all options for a win-win situation for Nigeria. I am proud of you and believe strongly in your success,” he said.
Africa’s Best Team for Oil Sector Transformation – Lokpobiri
Minister of State for Petroleum, Heineken Lokpobiri, praised the board’s composition, calling it the best team ever assembled in Africa’s energy space.
“I received calls from OPEC and across Africa. The consensus is clear — if this team doesn’t succeed, we might need to import experts from another planet,” Lokpobiri said.
Chairman of the Board, Ahmadu Musa Kida, expressed gratitude to the President for the opportunity and pledged to uphold transparency, accountability, and excellence in implementing the administration’s strategic goals.
Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, said the board has hit the ground running, holding strategic meetings with stakeholders to review operations and improve efficiency across the board.
“We’ve initiated bi-weekly strategy meetings and started turnaround maintenance on the refineries. Crude oil production has increased from 1.5 million barrels to 1.7 million in two months, with a target of 1.9 million barrels by year-end,” he said.
Ojulari added that economic reforms introduced by the Tinubu administration have started to restore investor confidence, boosting foreign direct investment (FDI) interest in Nigeria’s energy sector.
“We’re operating NNPC Ltd as a commercially driven business entity. We will promise only what we can deliver — and we will deliver,” he concluded.
