President Muhammadu Buhari has described the incorporation of the Nigeria National Petroleum Company Limited – NNPC Ltd as “a significant milestone in our quest to create an enduring National Energy Company that can compete with its global peers and deliver value to its shareholders, the Nigerian people.
In a statement issued by Special Adviser to the President Media and Publicity, Femi Adesina, after the President received the certificate of incorporation of the Nigeria National Petroleum Company Limited at the presidential villa, Abuja today.
President Buhari, while expressing happiness for the speedy confirmation by the National Assembly of his nominations for the Board and Management of the two Petroleum regulatory institutions said he expects an immediate take-off that will facilitate the effective implementation of the provisions of the Petroleum Industry Act -PIA that will accelerate gas development and optimization of oil production and support the energy transition plan.
In his remarks, Group Managing Director of NNPC, Mele Kolo Kyari, said the incorporation was “history made again, a massive transformation adding that lots of values have been delivered in the past six years.
While also speaking at the presentation of the certificate of incorporation the Registrar and Chief Executive Officer of the Corporate Affairs Commission, Garba Abubakar, said the registration which was accomplished within 24 hours, has complied with all requirements of the Companies and Allied Matters Act – CAMA, and that the new company is one with the largest capitalization of N200 billion in the country.