Buhari appoints Ararume Board Chairman of new NNPC Ltd
By Eyo Nsima
President Muhammadu Buhari, Sunday, ordered the immediate incorporation of NNPC Limited in line with the provision of the Petroleum Industry Act (PIA).
The President also named Senator Ifeanyi Ararume as NNPC Limited Board Chairman with Mele Kolo Kyari and Umar I. Ajiya as Chief Executive Officer, and Chief Financial Officer, respectively.
Adeshina also said that, “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 Group Managing Director of the NNPC, Mr Mele Kolo Kyari, has, therefore, been directed to take necessary steps to ensure that the incorporation of the NNPC Limited is consistent with the provisions of the PIA 2021.