PRESS RELEASE

President Bola Ahmed Tinubu, GCFR has inaugurated the newly appointed 9-member Board of the Nigerian National Petroleum Company Limited (NNPC Ltd.) with Chief Pius Akinyelure as Chairman, and Malam Mele Kyari as the Group Chief Executive Officer at a ceremony held at the State House, Abuja, Nigeria on Monday 18th December 2023.

Speaking at the inauguration ceremony, President Tinubu emphasized the significance of this new beginning, saying it heralds a period of enhanced corporate governance and operational efficiency in NNPC Ltd. In his remarks, President Tinubu acknowledged the exemplary performance of the Chief Executive Officer, Kyari, and expressed confidence in the Board's capability to drive NNPC Ltd. forward. “The challenge is corporate governance. Yes, we will improve the security situation. We are working very hard. Sincerely, the Chief Executive Office, Kyari, is doing very well,” President Tinubu said.

Highlighting the strategic importance of the Niger Delta region which holds most of Nigeria’s confirmed oil deposits, President Tinubu called for heightened corporate social responsibility efforts by NNPCL. “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,” he stated, emphasizing the need for quality infrastructure and environmental stewardship by the board and management.

He further urged the board to envision a future of cleaner energy, by also focusing on gas as a key component of Nigeria's energy transition and exploring innovative approaches for production increase, profitability, and governance, in alignment with the Petroleum Industry Act (PIA) 2021.

“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,” President Tinubu assured whilst pushing for enhanced collaboration between the government and the company.

Responding, the Chairman of the NNPC Ltd. Board, Chief Pius Akinyelure, expressed gratitude for President Bola Tinubu’s leadership, particularly in the decisive removal of petrol subsidies, and reaffirmed the Board's commitment to addressing challenges and maximizing production in the Niger Delta.

The Board and Management team for the Nigerian National Petroleum Company Limited (NNPC Ltd.) is with effect from December 1, 2023, and the members include:

1. Chief Pius Akinyelure — Non-Executive Board Chairman

2. Mallam Mele Kolo Kyari — Group Chief Executive Officer

3. Alhaji Umar Isa Ajiya — Chief Financial Officer

4. Mr. Ledum Mitee — Non-Executive Director

5. Mr. Musa Tumsa — Non-Executive Director

6. Mr. Ghali Muhammad — Non-Executive Director

7. Prof. Mustapha Aliyu — Non-Executive Director

8. Mr. David Ogbodo — Non-Executive Director

9. Ms. Eunice Thomas — Non-Executive Director

Furthermore, President Tinubu approved the appointment of two Permanent Secretaries as Non-Executive Directors.

1. Mr. Okokon Ekanem Udo — Permanent Secretary, Federal Ministry of Finance

1. Amb. Gabriel Aduda — Permanent Secretary, Federal Ministry of Petroleum Resources

The inauguration of the NNPC Ltd. Board continues an era of optimism and potential for the company, promising not only enhanced governance but also a commitment to sustainable and responsible energy development.

Olufemi O. Soneye

Chief Corporate Communications Officer

NNPC Ltd.

Abuja

18 December 2023

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