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Buhari Urges Strict Compliance With Corporate Governance At Inauguration Of NNPC Board

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Buhari Urges Strict Compliance With Corporate Governance At Inauguration Of NNPC Board

President Muhammadu Buhari on Friday in Abuja urged the Board of the newly incorporated Nigerian National Petroleum Company (NNPC) Limited to ensure strict compliance with Corporate Governance principles that place premium on doing business with the highest ethical standards, integrity, and transparency.

Inaugurating the Board chaired by Senator Margery Chuba Okadigbo, the President charged them to focus on profitability and operate at par with its industry peers across the world.

“I expect the NNPC Limited to be mindful of our commitments to our net carbon zero aspirations and to ensure total alignment with the global energy transition realities,” he said.

READ ALSO: Buhari Drops Araraume As Board of NNPC Ltd Chair, Appoints Margery Okadigbo

The President reminded the Board members that they came on board as a result of the reforms put forward by the Petroleum Industry Act (PIA) 2021, which seeks to reposition the Nigerian petroleum industry to a commercially viable and competitive industry in line with global business dynamics and best practices.

“The Nigerian National Petroleum Company Limited is mandated to focus on profitability and continuous value creation beyond the simple fulfillment of legal and regulatory requirements.

“NNPC Limited is expected to operate at par with its industry peers across the world, while acting as Enabler Company that will foster the development of other sectors of our economy.

“The inauguration of this Board is a major step in the ongoing transition to a more viable petroleum industry that will attract investment to support our economic growth and generate employment to millions of our people,” he said.

President Buhari directed that there should be full alignment and synergy between NNPC Limited, the Upstream Regulatory Commission and the Midstream & Downstream Regulatory Authority in compliance with the provisions of the law in all respects to deliver the onerous reforms envisaged for the energy industry.

“NNPC Limited is expected to operate at par with its industry peers elsewhere in the world, while acting as Enabler Company that will foster the development of other sectors of our economy.”

While thanking the leadership and members of the National Assembly for their seamless support in the journey towards a viable, accountable and transparent energy industry, the President said he would count on the professional insights and ethical conduct of the Board members to ensure the delivery of his administration’s promises to Nigerians.

READ ALSO: How PIA Will Affect NNPC – Mele Kyari

In his remarks, the Minister of State, Petroleum Resources, Timipre Sylva, said under the present administration a lot has been achieved in the petroleum industry, including the signing of the PIA, the registration of NNPC Limited as a CAMA company and the inauguration of the Board of the NNPC Limited.

“Mr President this is history in the making because this is the first time any President of the Federal Republic of Nigeria is inaugurating an independent board of an independent NNPC Limited. This, however, puts a lot of responsibility on the shoulders of those inaugurated and those of us in the Ministry of Petroleum Resources,” he said.

The following board members were inaugurated: Senator Okadigbo, Chairman, Mele Kolo Kyari, Chief Executive Officer, Umar I. Ajiya, Chief Financial Officer, Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South-South), Chief Pius Akinyelure (South West), Dr Nasir Sani Gwarzo, Permanent Secretary, Ministry of Petroleum Resources and Aliyu Ahmed, Permanent Secretary, Minister, Finance, Budget and National Planning.

 

 

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Breaking: Appeal Court Retains Adeleke As Osun Governor

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BREAKING: Adeleke Freezes Osun Accounts , Reverses Appointments After Swearing In As Governor
Governor Adeleke

The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.

The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola

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BREAKING: PDP Suspends Anyim, Fayose

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Anyim and Fayose

Former governor of Ekiti State, Ayodele Fayose; former president of the Senate, Pius Anyim; Prof Dennis Ityavyar and Aslam Aliyu were on Thursday suspended from the Peoples’ Democratic Party (PDP).

The PDP made the suspension on Thursday after an extensive review of the affairs of the party, pursuant to the provisions of the PDP Constitution (as amended in 2017).

The PDP also referred the Governor of Benue State, Samuel Ortom, to the National Disciplinary Committee over his reported involvement in anti-party activities.

This was disclosed in a statement signed by the National Publicity Secretary, Debo Ologunagba.

“The PDP urges all leaders, critical stakeholders and teeming members of our party across the country to remain united and focused at this critical time,” the statement added.

 

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BREAKING: Ekweremadu, Wife Found Guilty Of Organ-trafficking In UK

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Ekweremadu and his wife

A United Kingdom court has found former Deputy Senate President, Senator Ike Ekweremadu, 60, his wife Beatrice, 56, and Dr Obinna Obeta, 50,  guilty of an organ-trafficking plot, which saw them bring a 21-year-old man to the UK

They were convicted of conspiring to exploit the man from Lagos for his kidney, reports the BBC.

Prosecutors told the Old Bailey the organ was to be removed and given to the couple’s daughter, Sonia, aged 25.

She was cleared of the same charge.

The victim, a street trader from Lagos, was brought to the UK last year to provide a kidney in an £80,000 private transplant at the Royal Free Hospital in London.

They were later arrested at the airport while trying to leave the UK.

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