•Charges members to build on gains of ongoing economic reforms  

•Ojulari: Nation’s refineries’ production to rise from 1.5m to 1.9m barrels by end of 2025

Deji Elumoye in Abuja

President Bola Tinubu has charged the new board of the Nigerian National Petroleum Company Limited (NNPCL) to bring the experiences of its members to bear on the ongoing efforts to transform the country’s economy.

Speaking while inaugurating the NNPC Limited Board at State House, Abuja, on Thursday, Tinubu said he selected the board members painstakingly to ensure quality leadership.

Group Chief Executive Officer of NNPC Ltd, Bashir Ojulari, said the team had met with industry stakeholders and set clear directions on how to improve various aspects of the company’s operations.

Tinubu told the new board, “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.

“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.”

The president said the ongoing economic reforms had yielded results, with local and international acknowledgements.

According to him, “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.

“Thank you for accepting the opportunity to serve your country and our dear country.”

Tinubu also told the board that the

volatility in the world’s economy will require looking inwards for solutions, and Nigerians will depend on them to reposition NNPC Ltd.

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

Earlier, Minister of State, Petroleum, Heineken Lokpobiri, thanked the president for assembling the team he described as the best in Africa.

Lokpobiri stated, “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.”

Chairman of the Board, Ahmadu Kida, thanked Tinubu for the opportunity to serve the country.

Kida said the new board would uphold the highest standard of leadership, courage, and integrity in delivering on the president’s mandate.

Ojulari said the team had already met with industry stakeholders to review operations and business relationships.

“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,” he said.

Ojulari stated that the management had started optimising various aspects of the company, including the turnaround maintenance of the refineries.

He said production had risen to 1.7 million barrels in two months, from 1.5 million barrels, with the target of reaching 1.9 million barrels by year-end.

“We will promise what we can deliver, and we will deliver on our promise,” he added.

Ojulari also said the president’s economic reform had sent the right signals to attract foreign direct investments.

He assured that NNPC Ltd would operate as a business.