Buhari says the suspension is with immediate effect and date for inauguration of new Board, indefinite
By Emma Ogbuehi
President Muhammadu Buhari has directed the immediate suspension of the inauguration of the newly constituted Board of the Nigerian National Petroleum Company (NNPC) Limited.
A statement by the Secretary to the Government of the Federation (SGF), Boss Mustapha, which announced the suspension of the event, did not give reasons for the new development.
The inauguration was earlier scheduled for Wednesday, November 24, 2021.
While expressing regrets for any inconvenience the suspension might cause, the statement noted that a new date would soon be announced for the event.
“President Muhammadu Buhari has directed the immediate suspension of the inauguration of the newly constituted Board of the Nigerian National Petroleum Company Limited (NNPC) scheduled for Wednesday 24th November, 2021 until further notice”, the release stated.
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Buhari had in September approved the appointment of the Board and Management of the Nigerian National Petroleum Company Limited with Senator Ifeanyi Ararume as Chairman.
He equally directed that the Nigerian National Petroleum Company Limited be incorporated, the Special Adviser to the President on Media and Publicity, Femi Adesina, announced via a statement.
Adesina said the President appointed the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, as the Chief Executive Officer, adding that his principal acted in accordance with the Petroleum Industry Act (PIA) 2021.
“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 explained.
According to the presidential spokesman, NNPC GMD had been directed to take necessary steps to ensure that the incorporation of the oil company is consistent with the provisions of the PIA 2021.
Adesina explained that Ararume would serve as the Chairman of the Board, with Umar I. Ajiya being the Chief Financial Officer.
Apart from Kyari, other board members were; 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), and Chief Pius Akinyelure (South West).