Abuja: The Tinubu Media Support Group (TMSG) has hailed the newly constituted board of the Nigerian National Petroleum Corporation Limited (NNPCL) as a testament to President Bola Tinubu's pro-business approach to the oil industry.
According to News Agency of Nigeria, TMSG expressed in a statement signed by Chairman Emeka Nwankpa and Secretary Dapo Okubanjo that only a President with extensive experience and a robust private sector background could assemble such a team of industry experts poised to elevate NNPCL to new heights. The statement highlighted the appointment of Engineer Bashir Ojulari, formerly the Executive Vice President/Chief Operating Officer of Renaissance Africa Energy Company, and Engineer Musa Kida as the non-executive Chairman of the 11-member board as indicative of a new era for NNPCL.
The group emphasized that while it is not unprecedented for the corporation to have an outsider in charge, it is the first instance where the board is entirely composed of industry experts. TMSG expressed satisfaction that no politicians were included on the board, viewing it as evidence of President Tinubu's commitment to professionalism in accordance with the Petroleum Industry Act (PIA) 2021.
TMSG concurred with President Tinubu's viewpoint that restructuring the board is vital for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialization and diversification. The statement reiterated that all appointees on the NNPCL board are technocrats with in-depth knowledge of the oil and gas sector, capable of setting and achieving targets.
The group expressed optimism about NNPCL meeting the Tinubu administration's goals of increasing oil production to two million barrels per day and daily gas production to 8 billion cubic feet by 2027. Moreover, they anticipate that the new NNPCL will achieve accomplishments akin to global giants such as Aramco and Petrobras, and compete on the international stage.