By Emmanuel Obisue
Nigeria’s President, Muhammadu Buhari, has directed the immediate suspension of the inauguration of the newly constituted Board of the Nigerian National Petroleum Company Limited (NNPC Ltd) which was earlier scheduled for Wednesday, November 24, until further notice.
A statement issued by the Secretary to the Government of the Federation, Boss Mustapha informed that “a new date for the inauguration of the Board will be announced in due course.
“We deeply regret inconveniences caused to members by this suspension, please”.
President Buhari had in September this year approved the appointment of the Board and Management of NNPC Ltd with Senator Ifeanyi Ararume as Chairman.
He further directed that the NPC Ltd be incorporated.
According to a statement issued by Presidential Spokesman Femi Adesina, the President appointed the Group Managing Director of NNPC, Mele Kyari, as the Chief Executive Officer, adding that his principal acted in accordance with the Petroleum Industry Act, PIA 2021.
“This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause 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,” the statement explained.