On Monday, President Bola Ahmed Tinubu inaugurated the 11-member board and management team for the Nigerian National Petroleum Company Limited (NNPCL). Following the inauguration at the Presidential Villa in Abuja, President Tinubu urged the board members to prioritize profitability, increased production, and robust governance, emphasizing that their appointments should not be perceived as mere “cake sharing,”Daily Trust reports.

Chairman of the 11-man board, Chief Pius Akinyelure, addressed State House reporters after the inauguration, setting an ambitious production target of two million barrels per day by 2024 for the NNPCL. He highlighted the significant challenges facing Nigeria’s oil and gas industry and called for a comprehensive overhaul of the national security architecture to address issues such as oil theft and pipeline vandalism.

Chief Akinyelure reiterated the board’s commitment to raising the nation’s crude oil production to a minimum of 2 million barrels per day by 2024. He expressed the board’s determination for Nigeria to compete on a global scale in the oil and gas industry, with the aim of achieving the top position in Africa.

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Furthermore, Chief Akinyelure assured the President of the board’s collective efforts to reposition the Nigerian National Petroleum Company Limited for sustained economic growth and improved fortunes for Nigeria. He emphasized that the board had received the President’s full support to carry out its responsibilities, pledging a 100% commitment to ensuring that the key performance indicators of the oil industry in Nigeria would be rated number one in Africa, competing proudly with the global oil and gas industry.

It is worth noting that on November 28, President Tinubu appointed Chief Akinyelure as the board chairman of the NNPCL, along with eight other board members, including Mele Kolo Kyari, Alhaji Umar Isa Ajiya, Mr. Ledum Mitee, Mr. Musa Tumsa, Mr. Ghali Muhammad, Prof. Mustapha Aliyu, Mr. David Ogbodo, and Ms. Eunice Thomas.


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