President Bola Tinubu inaugurated the 11-member board of the Nigerian National Petroleum Company Limited (NNPCL) on Monday, charging the members to get to work immediately and warning that non-performance would not be tolerated.
Speaking at the State House in Abuja to inaugurate the NNPCL Board, President Tinubu also warned that conduct indicating a sense of entitlement would not be tolerated, adding that the Board could be dissolved without prior notice to members for non-performance.
“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.
“However, 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 recognise all of you.”
According to the president, corporate social responsibility for the Niger Delta must be taken seriously, considering the devastating effects of oil exploration and exploitation on the environment.
Speaking further, he said, “The Niger Delta must be seen as the goose that lays the golden egg, and we must treat that region with the respect and care it deserves.
” It is not about us. It is about the well-being of the entire country and the lifeblood of the nation. We will do more for security to minimise stealing and vandalism.”
As Nigeria transitions to cleaner energy, Tinubu has directed that more attention be paid to gas, adding, “We need to show that we are committed to the welfare of our country.”
Also speaking, Chairman of the Board, Chief Pius Akinyelure, commended the President for the removal of petrol subsidies, noting that the nation would have drowned in debt but for his decisiveness.
“Our focus is to increase production. We must address the problem of stealing and pipeline vandalism in the Niger Delta. We are aware of the efforts in the past, but we will do more.”
In a press conference following the inauguration, the chairman of the 11-member board set an ambitious production target of two million barrels per day for the NNPCL by 2024, highlighting the significant challenges confronting Nigeria’s oil and gas industry.
Akinyelure also advocated for a comprehensive overhaul of the national security architecture in order to address losses caused by oil theft and pipeline vandalism.
