President Buhari Receives Certificate Of Incorporation For NNPC

The Minister of State for Petroleum, Timipre Sylva, presented the certificate to the President at the State House on Friday.

Others present at the presentation of the certificate include; Registrar Corporate Affairs Commission, Alhaji Garba Abubakar and NNPC Group Managing Director, Mele Kyari, Ministry of Finance, Budget & National Planning Aliyu Ahmed; Chief of Staff to President Buhari, Ibrahim Gambari; Secretary to the Government of the Federation, Boss Mustapha; Permanent Secretary, Ministry of Petroleum Resources Dr. Nasir Sani Gwarzo, and NNPC CFO, Umar Isa Ajiya.

Receiving the certificate, the President said, the country expects nothing less from the Board of Directors, the Chief Executive Officer, and the Chief Finance Officer, “than the realization of a global national oil company that this nation desires and deserves.”

Under the recently signed Petroleum Industry Act (PIA), the Nigerian National Petroleum Corporation (NNPC), was expected to transform to a limited liability company, a fact that has now been accomplished.

President Buhari described the incorporation as “a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to its shareholders, the Nigerian people.”

The President  in a statement issued by his Special  Adviser on Media and Publicity,  Femi Adesina, said he was happy to note that the National Assembly has confirmed his nominations for the Board and Management of the two regulatory institutions, and expects immediate take-off to facilitate effective implementation of the provisions of the PIA “on accelerated gas development and optimization of oil production and support for energy transition.”

In his remarks, Group Managing Director of NNPC, Mele Kolo Kyari, said the incorporation was “history made again, a massive transformation from what we know, to where we are going,” under the leadership of President Muhammadu Buhari.

He said lots of values have been delivered in the past six years, “and we still have further accountability and values to deliver.”