President Muhammadu Buhari on Friday, October 8 received the certificate of incorporation of the Nigeria National Petroleum Company Limited (NNPC), charging the Board of Directors, Chief Executive Officer, and Chief Finance Officer, to deliver a global national oil company.
This was made known by the Special Adviser to the President on Media and Publicity, Femi Adesina in a statement.
Describing the incorporation as a significant milestone in the quest to create a globally competitive and enduring National Energy Company, he stated that his expectation was for a speedy transition to capitalize the company as required by the Petroleum Industry Act.
In his remarks, Group Managing Director of the NNPC, Mele Kyari, said the incorporation was history made again and a massive transformation, adding that lots of values have been delivered in the past six years and further accountability and values will be delivered.
The Registrar/Chief Executive Officer of the Corporate Affairs Commission, Garba Abubakar, also noted that the registration, accomplished within 24 hours, had complied with all requirements of the Companies and Allied Matters Act, and the PIA, and the new company is one with the largest capitalization of N200 billion in the country.
Recall that under the recently signed Petroleum Industry Act (2021), the NNPC would operate as a limited liability company.
