Buhari Names Ararume NNPC Board Chair And Directs Incorporation

President Muhammadu Buhari has approved the appointment of Senator Ifeanyi Ararume as Nigerian National Petroleum Company Limited (NNPC LTD)’s Board Chairman.

Gatekeepers News reports that President Muhammadu Buhari in his capacity as the Minister of Petroleum Resources has directed the incorporation of the NNPC LTD and approved the appointment of Ararume as Chairman of the Board.

The Presidential Spokesman, Femi Adesina who disclosed this on a statement he signed said this was in consonance with Section 53(1) of the Petroleum Industry Act 2021.

Adesina said the PIA 2021 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, Mele 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.

The Presidential Spokesman also noted that by the power vested in the President under Section 59(2) of the PIA 2021, Buhari has approved the appointment of other Board and Management of the NNPC Limited, with effect from the date of incorporation of the Company.

Mele Kyari and Umar Ajiya have been appointed as the Chief Executive Officer, and Chief Financial Officer, respectively.

Other Board Members include Dr Tajudeen Umar (North East), Lami O. Ahmed (North Central), Mohammed Lawal (North West), Senator Margaret Chuba Okadigbo (South East), Constance Harry Marshal (South-South), and Pius Akinyelure (South West).