President Muhammadu Buhari has dropped Ifeanyi Ararume as chairman for the Board and Management of the Nigerian National Petroleum Company (NNPC) Limited naming Margaret Chuba Okadigbo as chairman instead.
On September 19, 2021, Buhari had approved the constitution of a board for the NNPC with Ararume as chairman in accordance with Section 59(2) of the PIA 2021.
However, on November 23, 2021, Secretary to the Government of the Federation, Boss Mustapha, a day before inauguration of the board, announced Buhari’s approval of the indefinite suspension of the inauguration of the newly constituted board.
A statement by presidential spokesman, Femi Adesina, yesterday, announced Margret Okadigbo, widow to Chuba Okadigbo, one time running mate to Buhari, as the new chairman of the NNPC board.
Mele Kyari was named Chief Executive Officer and Umar Ajiya, Chief Financial Officer for the oil firm. Also on the board are Tajudeen Umar, representing the Northeast; Lami Ahmed, Northcentral; Mohammed Lawal, Northwest; Henry Obih, Southeast; Constance Harry Marshal, Southsouth and Pius Akinyelure, Southwest.
The appointments take effect from the date of the incorporation of the NNPC Limited.
Adesina also announced the new executive commissioners of the Nigerian Upstream Petroleum Regulatory Commission. They are Nuhu Habib (Kano), Executive Commissioner, Development and Production; Kelechi Ofoegbu (Imo), Executive Commissioner, Economic Regulations and Strategic Planning; Tonlagha John (Delta), Executive Commissioner, Health, Safety, Environment and Community, and Jide Adeola (Kogi), Executive Commissioner, Corporate Services and Administration.
Nigerian Midstream and Downstream Petroleum Regulatory Authority also had Francis Ogaree (Rivers) as Executive Director, Hydrocarbon Processing; Mustapha Lamorde (Adamawa), Executive Director, Health, Safety, Environment and Community; Mansur Kuliya (Kano), Executive Director, Midstream and Downstream Gas Infrastructure Fund; Bashir Sadiq (Sokoto), Executive Director, Corporate Services and Administration, and Zainab Gobir (Kwara), Executive Director, Economic Regulations and Strategic Planning.
They join the Board Chairman, Executive Director, Downstream Systems, Storage and Retailing Infrastructure, the CEO, and Executive Director, Finance and Accounts, who had earlier been appointed.
For Midstream and Downstream Infrastructure Fund, the new council members are Effiong Abia (Akwa Ibom), Bobboi Ahmed (Adamawa) and Abdullahi Bukar (Katsina).
Buhari had last September written the senate on the administrative structure amendments to the Petroleum Industry Act (PIA), which included appointment of Non-Executive Board Members, removal of the Ministries of Petroleum and Finance from the Board of the two new institutions, and appointment of executive directors.