Tinubu to NNPC Board: Use Your Experience to Fix Economy

President Bola Ahmed Tinubu has charged the newly inaugurated Board of the Nigerian National Petroleum Company Limited (NNPC Ltd) with the responsibility of driving Nigeria’s economic revival through innovation, leadership, and commitment to national growth.

Speaking at the formal inauguration held Thursday at the State House, Abuja, President Tinubu said the strategic appointments to the board were made with deep consideration and expectation, emphasizing the need for the company to consolidate gains from ongoing economic reforms.

“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,” the President declared. “You have the reputation, resourcefulness and experience to help the country. It is a call to duty for you.”

President Tinubu lauded the economic transformation currently underway, noting that recent reforms have drawn recognition at both local and international levels, signaling Nigeria’s growing competitiveness.

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“Nigeria has come of age. It is now more competitive and turning the corner,” he said. “With your highly respected team, I can relax and attend to other issues.”

He also urged the Board to explore innovative pathways to reposition NNPC Ltd as a key player in national development amid global economic volatility.

“Explore all options for a win-win situation for Nigeria,” the President added. “I am so proud of you and believe you will succeed.”

Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, hailed the calibre of individuals on the new Board, describing them as the best in Africa.

“I got calls from across the continent, especially my colleagues in OPEC, saying that if this team doesn’t deliver, we may need to import people from another planet,” Lokpobiri remarked humorously, underscoring the significance of the appointments.

In his remarks, Board Chairman Ahmadu Musa Kida expressed gratitude for the trust reposed in them and pledged to uphold the highest standards of leadership and integrity.

Also speaking, Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, affirmed that the new team had hit the ground running, already engaging stakeholders and setting a clear strategic direction.

He revealed early progress, including a production increase from 1.5 million barrels to 1.7 million barrels in just two months, with an ambitious target of 1.9 million barrels by the end of the year.

“We will promise what we can deliver, and we will deliver on our promise,” Ojulari said, adding that President Tinubu’s reformist stance had begun to attract renewed foreign direct investment.

Ojulari also reaffirmed the company’s commitment to operate as a commercially-driven entity with a strong performance culture.