President Bola Tinubu has issued a stern warning to the newly inaugurated Board of the Nigerian National Petroleum Company Limited (NNPCL), cautioning that non-performance and conduct suggesting a sense of entitlement will not be tolerated.
During the inauguration at the State House on Monday, President Tinubu emphasized that the Board could face dissolution without prior notice if there is a lack of sustained excellence in performance.
The President stressed the need for the Board to prioritize corporate social responsibility in the Niger Delta region, considering the environmental impact of oil exploration and exploitation.
“Niger Delta must be seen as the goose that lays the golden egg, and we must treat that region with the deserved respect and care. It is not asking for too much to ensure quality and constant water supply, schools, medical facilities, and roads,” President Tinubu stated.
He further highlighted the importance of caring for the environment, addressing security concerns to minimize theft and vandalism, and transitioning to cleaner energy by focusing more on gas.
President Tinubu urged the Board to closely examine the Petroleum Industry Act (PIA) and emphasized the need for a commitment to the country’s welfare.
“Take a look at the Petroleum Industry Act (PIA), and know what the pitfalls are. The Cabinet members and Board should decide what we can do differently for production increase, profitability, and governance. It is in your hands. I will work with you,’’ he said.
The Chairman of the Board, Pius Akinyelure, in his remarks, commended President Tinubu for the removal of the petrol subsidy, noting that the nation would have faced significant debt challenges without his decisive action.
