President Buhari Approves Incorporation of NNPC, Appoints Mele Keyari as CEO

President Muhammadu Buhari has appointed Mele Kyari as Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPC) as he approves the incorporation of the petroleum industry regulators.

Making this disclosure in a statement on Sunday, the president’s spokesman Femi Adesina said the appointment was in line with the Petroleum Industry Act (PIA) of 2021.

Mr Buhari also appointed Senator Ifeanyi Ararume as chairman of the management board as he set up the board and management for the NNPC Limited.

“President Muhammadu Buhari, in his capacity as Minister of Petroleum Resources, has directed the incorporation of the Nigerian National Petroleum Company Limited,” the statement by Mr Adesina read.

“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.”

“Also, by the power vested in him under Section 59(2) of the PIA 2021, President Buhari has approved the appointment of the Board and Management of the NNPC Limited, with effect from the date of incorporation of the Company,” the statement read further.

“Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure (South West).”

The president directed the newly appointed CEO to ensure that relevant actions are taken to ensure that the incorporation is in accordance with the PIA of 2021.


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