President Bola Tinubu has cautioned the Nigerian National Petroleum Company Limited (NNPCL) Board that failure to perform will not be tolerated.
The President, who inaugurated the NNPCL Board on Monday at the State House, also warned that arrogant behaviour will not be permitted.
According to presidential spokesperson Ajuri Ngelale, the President stated that the Board of Directors could be dissolved without prior warning to members due to non-performance.
“You could be suddenly dissolved if there is no sustained excellence in performance,’’ 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.
“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. It is not asking for too much to ensure quality and constant water supply, schools, medical facilities, and roads.
“It 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,’’ he stated.
The President directed that more attention should be given to gas as Nigeria transitions to cleaner energy, adding, “We need to show that we are committed to the welfare of our country.”
“Take 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,’’ 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.