President Bola Tinubu has issued a stern warning to the newly inaugurated Board of the Nigerian National Petroleum Company Limited (NNPCL), cautioning against non-performance and a sense of entitlement. Tinubu, who inaugurated the Board at the State House on Monday, emphasized that sustained excellence in performance is non-negotiable and failure to meet expectations could lead to the board’s sudden dissolution without prior notice.
Expressing his expectations, Tinubu stressed that corporate social responsibility for the Niger Delta must be a top priority due to the adverse effects of oil exploration on the environment. He emphasized the need to treat the Niger Delta with respect, acknowledging its role as the economic backbone of the nation. The President highlighted the importance of ensuring quality services such as constant water supply, schools, medical facilities, and roads in the region.
Tinubu underscored the broader significance of environmental care and the nation’s commitment to cleaner energy as Nigeria transitions. He directed the Board to pay more attention to the gas sector and emphasized the importance of demonstrating a genuine commitment to the country’s welfare.
Referring to the Petroleum Industry Act (PIA), the President urged the Board to be vigilant about potential pitfalls and encouraged members to explore innovative approaches for increased production, profitability, and effective governance.
In response to the removal of the petrol subsidy, the Chairman of the Board, Pius Akinyelure, expressed gratitude to the President, recognizing his decisive action that averted potential national debt. Tinubu’s warning and expectations serve as a reminder to the Board members that their performance will be closely monitored as they take on their roles in the NNPCL.