Buhari orders incorporation of NNPC, names board members

PRESIDENT Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company (NNPC) Limited.

The president has also constituted the board members of the corporation.

A statement signed by his Special Adviser on Media and Publicity Femi Adesina said Buhari named Ifeanyi Ararume as board chairman of the NNPC Ltd.

He also appointed the Group Managing Director of the NNPC Mele Kolo Kyari and Umar Ajiya as chief executive officer and chief financial officer of the corporation, respectively.

    Other members of the board are  Tajudeen Umar (North East),  Lami O. Ahmed (North Central), Mohammed Lawal (North West), Margaret Chuba Okadigbo (South East), Constance Harry Marshal (South-South), and Pius Akinyelure (South West).

    The president’s action was in consonance with Section 53(1) of the Petroleum Industry Act 2021, which required the minister of petroleum resources to call 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, according to the statement.

    Buhari directed Kyari to take the necessary steps to ensure that the NNPC Limited’s incorporation was consistent with the PIA 2021.

    The president signed the controversial Petroleum Industry Bill into law on August 16.


    Marcus bears the light, and he beams it everywhere. He's a good governance and decent society advocate. He's The ICIR Reporter of the Year 2022 and has been the organisation's News Editor since September 2022. Contact him via email @ [email protected].

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation


    Please enter your comment!
    Please enter your name here

    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement