President Bola Tinubu has warned the Board of the Nigerian National Petroleum Company Limited (NNPCL) that non-performance will not be tolerated.
The President, who inaugurated the Board of the NNPCL at the State House on Monday, also warned that conduct suggesting a sense of entitlement will not be tolerated.
According to a statement by presidential spokesman, Ajuri Ngelale, the President said the Board could be dissolved without prior notice to members over non-performance.
โYou could be suddenly dissolved if there is no sustained excellence in performance,โโ Tinubu warned.
He also said corporate social responsibility for the Niger Delta must be taken seriously, considering the devastating effects of oil exploration and exploitation on the environment.
โNiger 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.
โIt 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 vandalisation,โโ he stated.
The President directed that more attention should be given to gas as Nigeria transitions to cleaner energy, adding, โWe need to show that we are committed to the welfare of our country.โ
โTake a look at the Petroleum Industry Act (PIA), and know what the pitfalls are. 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,โโ he said.
In his remarks, the Chairman of the Board, Pius Akinyelure, commended the President for the removal of petrol subsidy, noting that the nation would have drowned in debt, but for his decisiveness.
