Explore options to ensure win-win situation for Nigeria, Tinubu tells NNPC board

President Bola Tinubu has urged the Nigerian National Petroleum Company (NNPC) Limited board to explore all options for a win-win situation for Nigeria.

On Thursday, Tinubu inaugurated the board of directors of the NNPC.

Speaking at the inauguration of the NNPC board at the state house in Abuja, the president said he had carefully selected the board members to ensure quality leadership.

“Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” he said.

“When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you.

“You have the reputation, resourcefulness, and experience to help the country. It is a call to duty for you. I believe you are among the best the industry can offer.”

Tinubu said the ongoing economic reforms have shown results, earning local and international commendations.

“Nigeria has come of age. It is now more competitive and turning the corner, and with your highly respected team, I can relax and attend to other issues. Thank you for accepting the opportunity to serve your country and our dear country,” the president said.

Tinubu said the global economic volatility necessitates looking inward for solutions, adding that repositioning the NNPC is vital for Nigerians.

He asked the board to consolidate the gains of the current economic reforms, which have drawn praise for the resilience and competitiveness of the Nigerian economy.

‘NEW NNPC BOARD, BEST TEAM IN AFRICA’

Heineken Lokpobiri, minister of state for petroleum resources, thanked the president for assembling what he described as the best team in Africa.

“I got calls from the whole of Africa, my colleagues in OPEC, saying that if this team does not deliver, Nigeria will have to import men from another planet to come and deliver the oil and gas sector in Nigeria,” he said.

Ahmadu Kida, chairman of the board, expressed gratitude to the president for the opportunity to serve.

Kida said the new board would uphold the highest standards of leadership, courage, and integrity in delivering on the president’s mandate.

Bayo Ojulari, group chief executive officer, NNPC, said the team had already engaged with industry stakeholders to review operations and business relationships.

“We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with a bi-weekly meeting with stakeholders,” he said.

Ojulari noted the management had begun optimising the company’s operations, including turnaround maintenance of the refineries.

He said production had increased from 1.5 million to 1.7 million barrels in two months, with a target of 1.9 million barrels by year-end.

“We will promise what we can deliver, and we will deliver on our promise,” Ojulari added.

He also said the president’s economic reforms had sent positive signals to attract foreign direct investments.

Ojulari assured that NNPC would operate as a business.