Nigeria’s President, Bola Tinubu, has delivered a stern message to the Board of the Nigerian National Petroleum Company Limited (NNPCL), urging immediate action and emphasizing zero tolerance for non-performance. During the inauguration of the NNPCL Board at the State House on Monday, President Tinubu cautioned against behaviors indicating a sense of entitlement, stressing that the Board could face dissolution without prior notice if performance excellence is not sustained.
While acknowledging efforts to enhance corporate governance and improve the security situation, President Tinubu highlighted the possibility of dissolution in the absence of consistent excellence. He emphasised the importance of corporate social responsibility in the Niger Delta, underscoring the need for quality infrastructure, water supply, schools, medical facilities, and roads in the region affected by the environmental impact of oil exploration and exploitation.
President Tinubu asserted that prioritizing the well-being of the Niger Delta is essential, describing it as the “goose that lays the golden egg.” He pledged increased efforts in security measures to combat theft and vandalism in the region.
Addressing the transition to cleaner energy, President Tinubu directed more attention to be given to gas, stressing the commitment to the nation’s welfare. He urged a thorough examination of the Petroleum Industry Act (PIA) to identify pitfalls and encouraged the Board to explore strategies for increased production, profitability, and governance.
In response, the Chairman of the Board, Chief Pius Akinyelure, expressed gratitude to the President for the removal of the petrol subsidy, acknowledging that decisive actions prevented the nation from drowning in debt. He outlined the Board’s focus on production increase, vowing to address issues of theft and pipeline vandalization in the Niger Delta with intensified efforts.