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Buhari unveils new NNPC Ltd in Abuja

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President Muhammadu Buhari, Senate President, Ahmad Lawan and other government officials on Tuesday attended the unveiling of the Nigerian National Petroleum Company Limited (NNPC Limited).

The event, which is taking place in Abuja, the nation’s capital also has in attendance, the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of NNPC, Mele Kyari among other players in the oil and gas sectors.

The transitioning from NNPC Group to NNPC Limited is in accordance with the Petroleum Industry Act.

According to the Act, NNPC Limited will run a commercial and profit-focused organisation under the Company and Allied Matters Act (CAMA).

Speaking at the historic occasion at the State House Conference Centre, the President said Africa’s largest National Oil Company (NOC) would also support sustainable growth across other sectors of the economy as it delivers energy to the world.

This was disclosed in a statement by Femi Adesina, Special Adviser to the President.

The event which Features a special rendition of the Theme Song “Energy for today, Energy for tomorrow, Energy for Everyone” by an Ensemble, the President recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.

He expressed optimism that the NNPC Limited will sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and be free from institutional regulations such as the Treasury Single Account (TSA).

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