L-R: Mr. Musa Kida, President Bola Tinubu and Mr. Bayo Ojulari, GCEO of NNPCL at the State House in Abuja.

President Bola Tinubu has tasked the newly inaugurated Board of the Nigerian National Petroleum Company Limited (NNPCL) to build on the gains of his administration’s economic reforms, emphasizing the need for resilience, efficiency, and global competitiveness in the oil and gas sector.

The President made the call during the formal inauguration of the Board at the State House in Abuja on Thursday. According to a statement issued by the Special Adviser to the President on Media and Publicity, Mr. Bayo Onanuga, Tinubu said the composition of the board was the result of careful consideration and a desire to bring capable leadership into the oil and gas sector.

“When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you,” the President stated.

“You have the reputation, resourcefulness, and experience to help the country. It is a call to duty for you. I believe you are among the best the industry can offer,” he added.

President Tinubu praised the results already visible from his administration’s sweeping economic reforms, which have attracted commendations 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,” he said.

He urged the board to pursue internal solutions in light of global economic volatility, noting that Nigerians are counting on a revitalized NNPCL to deliver value and stability to the economy.

“Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” Tinubu charged.

In his remarks, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, commended the President’s selection, describing it as unmatched on the continent.

“I got calls from the whole of Africa, my colleagues in OPEC, saying that if this team does not deliver, Nigeria will have to import men from another planet to come and deliver the oil and gas sector in Nigeria,” Lokpobiri said.

The Chairman of the Board, Mr. Ahmadu Kida, expressed gratitude to the President for the confidence reposed in them, assuring that the board would uphold integrity and professionalism in delivering on its mandate.

“We will uphold the highest standard of leadership, courage, and integrity to meet the expectations of this government and the Nigerian people,” Kida said.

Also speaking at the event, the Group Chief Executive Officer of NNPCL, Mr. Bashir Ojulari, highlighted early achievements and set out targets for the near future. He disclosed that production had increased to 1.7 million barrels per day in two months from 1.5 million, with a target of 1.9 million barrels per day by the end of the year.

“We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with a bi-weekly meeting with stakeholders,” Ojulari noted.

He further stated that refinery turnaround maintenance had begun and that the company is optimizing operations across its business segments. “We will promise what we can deliver, and we will deliver on our promise,” he affirmed.

Ojulari also credited President Tinubu’s economic policies for sending strong signals to global investors. “The reforms have already begun to attract foreign direct investments, and we are committed to operating NNPCL as a business with full transparency and efficiency,” he said.

The inauguration signals a renewed drive by the Tinubu administration to deepen reforms in the energy sector and ensure Nigeria maximizes its oil and gas potential amidst shifting global energy dynamics.