President Bola Ahmed Tinubu has charged the newly reconstituted Board of the Nigerian National Petroleum Company Limited, NNPCL, with the critical task of driving economic transformation in Nigeria.
During a meeting at the State House in Abuja, the President called on the board members to leverage Nigeria’s vast oil and gas assets to deliver tangible economic gains for the nation. He urged them to prioritise transparency, accountability, and innovation in their decision-making processes.
“The NNPCL must not just be a revenue-generating body but a vehicle for national development,” Tinubu said.
With Nigeria facing persistent challenges, including high inflation, foreign exchange instability, and declining oil output, Tinubu stressed the urgency for NNPCL to rise beyond routine operations and proactively support economic recovery efforts.
He emphasized the need to maximize value across the energy chain, address fuel subsidy-related inefficiencies, and foster investments in refining and renewable energy.
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Board members were also reminded to uphold ethical leadership and avoid any form of corruption or conflict of interest, as the NNPCL’s role is pivotal to the success of Tinubu’s Renewed Hope economic agenda.
“You are not just board members; you are custodians of Nigeria’s energy future,” he added.
The NNPCL, which was commercialized under the Petroleum Industry Act (PIA), has been under pressure to improve profitability and transparency since transitioning from a public corporation into a limited liability company.
Tinubu concluded the meeting by expressing confidence in the board’s capabilities and reiterating that Nigerians expect visible impact from their stewardship.
NAN
