Abuja, Dec. 19, 2023: President Bola Tinubu has urged the Board of the Nigerian National Petroleum Company Limited (NNPCL) to immediately get to work, warning that non-performance would not be tolerated.
Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement, said Tinubu said this while inaugurating the Board of the NNPCL at the State House, on Monday in Abuja.
Tinubu also said that conducts suggesting a sense of entitlement would not be tolerated, warning that the Board could be dissolved without prior notice to members over non-performance.
“The challenge is corporate governance. Yes, we will improve the security situation. We are working very hard. Sincerely, the Chief Executive Officer, Kyari, is doing very well, and doing all that I know.
“But you could be suddenly dissolved if there is no sustained excellence in performance. It is my honour to inaugurate this Board, which has people of great integrity. I am honoured that we are doing this. I recognize all of you,’’ he said.
Tinubu said corporate social responsibility for the Niger Delta must be taken seriously, considering the devastating effects of oil exploration and exploitation on the environment.
“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.
“It is not about us. It is about the well-being of the entire country and the lifeblood of the nation. We should care more about the environment. We will do more for security to minimise stealing and vandalisation,’’ he stated.
The President directed that more attention should be given to gas as Nigeria transitions to cleaner energy, adding: “We need to show that we are committed to the welfare of our country.
“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.
In his remarks, the Chairman of the Board, Chief Pius Akinyelure, commended the President for the removal of petrol subsidy, noting that the nation would have drowned in debt, but for his decisiveness.
“Our focus is to increase production. We must address the problem of stealing and pipeline vandalisation in the Niger Delta. We are aware of the efforts in the past, but we will do more,’’ he said.
Shettima counsel investors on new opportunities in energy
Abuja, Dec. 19, 2023: Vice President Kashim Shettima has urged domestic and international investors to avail themselves of the new opportunities created by power deficit in the country.
Shettima stated this on Monday at the opening of the financial bid for the privatisation of the five National Integrated Power Project (NIPP) Plants in Abuja.
Represented by the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hadejia, Shettima said the event serves as a robust assurance to bidders and the start of an investment with promising returns.
He emphasised the need for investors to take advantage of the Federal Government’s bid to drive additional investments in Nigeria’s energy sector.
Shettima pledged the commitment of President Bola Tinubu’s administration to address the country’s energy deficiency.
Similarly, the vice president said that Tinubu’s administration remains focused on enhancing ease of doing business.
“Nigeria’s power deficit extends an open invitation to domestic and international partners. We are here to urge collaborative efforts to craft enduring solutions.
“The government remains resolute in addressing the energy deficiency and is focused on enhancing the ease of doing business.”
The vice president, however, urged prospective investors to “bear the weight of trust in utilizing these resources for the greater good of the nation.”
Shettima implored them to adhere to the highest standards of best practices “if we must pursue a shared objective.
“National Council on Privatisation and the Bureau of Public Enterprises are prepared to ensure that what we do has an effect on President Tinubu’s comprehensive eight-point plan, and a meticulous and transparent privatisation scheme within the power sector inspires confidence in our operations.
“As regulators, our commitment remains steadfast – we must persist as facilitators of these reforms. There are no shortcuts on the path to realizing the dream we’ve promised our beloved nation.”
Shettima noted that the success of the ‘pivotal moment’ underscores government’s commitment, “not just as a friend to our enterprises and investors but also as a facilitator of growth and development.
“We are here to fulfil our pledge to the nation and reassure them of our resolve to support initiatives that foster economic vibrancy and sustainability.”