Tinubu to NNPC board: You can be removed over non-performance

 

President Bola Tinubu says the newly inaugurated board and management team of the Nigerian National Petroleum Company (NNPC) Limited can be dissolved if there is no sustained excellence in performance.

 

According to a statement by Ajuri Ngelale, special adviser to the president on media and publicity, Tinubu made the warning in Abuja on Monday while inaugurating the NNPC board and management team.

 

Tinubu warned that any behaviour implying a sense of entitlement would not be accepted.

 

He added that non-performance could result in the board’s dissolution without prior notice to members.

 

“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,” he said.

 

“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 recognise all of you.”

 

Tinubu said corporate social responsibility for the Niger Delta must be addressed, owing to the disastrous environmental effects 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,” he said.

 

“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 minimize stealing and vandalization.”

 

The president said more attention must be given to gas as Nigeria transitions to cleaner sources of energy.

 

“We need to show that we are committed to the welfare of our country,” Tinubu said.

 

He directed the board to “take a look at the Petroleum Industry Act (PIA), and know what the pitfalls are”.

 

Tinubu asked the cabinet members and the board to consider what they could do differently to boost output, profitability, and governance.