Breaking: Buhari Orders Incorporation of NNPC, Appoints Board

President Muhammadu Buhari has directed the incorporation of the Nigerian National Petroleum Company Limited (NNPC).

A statement on Sunday issued by Special Adviser to the President (Media and Publicity), Femi Adesina, said the president gave the order in his capacity as Minister of Petroleum.

“This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of commencement of the Act in consultation with the Minister of Finance on the nominal shares of the Company,” the statement said.

The President has also approved the constitution of a board of directors for the NNPC.

The full list of the newly-appointed board members are:

Senator Ifeanyi Ararume – Board Chairman

Mr. Mele Kyari – Chief Executive Officer

Umar I Ajiya – Chief Financial Officer

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)

Chief Pius Akinyelure (South West).

All the appointments take effect from the date of the company’s incorporation.