Lawrence Olaoye 
President Bola Ahmed Tinubu has charged the Board of the Nigerian National Petroleum Company Limited (NNPCL) to consolidate the gains of his administration’s ongoing economic reforms, which have been widely acknowledged for boosting the resilience and competitiveness of the Nigerian economy.
Speaking at the formal inauguration of the Board on Thursday at the Presidential Villa, Abuja, President Tinubu emphasized that the selection of members was deliberate and based on proven character, competence, and industry reputation.
“When I started searching, it took a while to come up with the kind of character that you represent,” Tinubu said.
“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.”
The President noted that the economic reforms initiated under his administration have already started yielding results, both locally and internationally.
“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,” he added.
Tinubu urged the Board to seek homegrown solutions to economic volatility, emphasizing the strategic role of NNPCL in national development.
“Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” he said.
Also speaking at the event, the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, commended the President for assembling what he described as Africa’s best team.
“I got calls from across Africa, including my colleagues in OPEC, saying that if this team does not deliver, then Nigeria may need to import men from another planet to drive the oil and gas sector,” he remarked.
Chairman of the NNPCL Board, Ahmadu Musa Kida, expressed gratitude to the President for the opportunity to serve and pledged that the Board would maintain the highest standards of leadership, integrity, and accountability in delivering on the administration’s mandate.
Group Chief Executive Officer of NNPCL, Bashir Bayo Ojulari, disclosed that the new management had already begun engaging stakeholders to review and realign operations for greater efficiency.
“We have set a clear direction with the mandate you have given us. We’ve commenced bi-weekly meetings with stakeholders, and we’ve already begun optimizing key operations,” Ojulari said.
He noted that crude oil production had increased from 1.5 million barrels to 1.7 million barrels within two months, with a year-end target of 1.9 million barrels per day. He also confirmed the ongoing turnaround maintenance of refineries.
“We will promise only what we can deliver — and we will deliver on that promise,” Ojulari affirmed, adding that the reforms had boosted investor confidence and foreign direct investment prospects.
He concluded by reaffirming that NNPCL would now run strictly as a commercially viable enterprise.
