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President Buhari Unveils New NNPC LTD

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President Buhari with GMD NNPC Mele Kyari

 

President Muhammadu Buhari has unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed.

Speaking at the historic occasion at 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.

At the event, which featured 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 would sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA).

‘‘This is a landmark event for the Nigerian oil industry.

‘‘Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.

‘‘We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.

NNPC directs private depot owners to sell at government approved price or be blacklisted

‘‘By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on July 1, 1977. Forty-Four (44) years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector,” he said.

According to him, the provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company.

He said this would enable the company to operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.

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‘‘It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.

‘‘Coincidentally, I, on the 1st of July 2022 authorized transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today.

‘‘I therefore thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our National Oil Company from the good to the great,’’ he added.

The president, therefore, assured stakeholders in the industry that Africa’s largest NOC would adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent and viable NOC at par with its peers around the world.

He further stated that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, for the day days after tomorrow.

He thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.

Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assured international and local oil companies of adequate protection for their investments, ”the nation’s petroleum industry is no longer rudderless”.

He said: ‘‘From the onset of this administration, Mr. President never concealed his desire to create a more conducive environment for growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries.

‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.

”In fact, between 2015 and 2019, KPMG states that “only 4 percent of the $70 billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves.

‘‘We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us.”

Sylva described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.

He thanked the president for his ”unparalleled leadership, steadfastness, and unalloyed support towards ensuring that the country’s oil and gas industry is on a sound footing”.

The Group Chief Executive Officer of NNPC Limited, Mele Kyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.

He assured stakeholders and the global energy community that the new company was endowed with the ‘‘best human resources one can find anywhere in the industry.

‘‘NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world.” (NAN)

 

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Breaking:Ramadan Cresecent Sighted In Saudi Arabia

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— The Supreme Court announced on Tuesday evening that the crescent moon marking the beginning of Ramadan has been sighted in Saudi Arabia, confirming that the holy month will begin on Wednesday.

The announcement followed reports from authorized moon sighting committees across the Kingdom, in accordance with Islamic tradition.

With the confirmation, Muslims across Saudi Arabia will begin fasting at dawn on Wednesday, observing the ninth month of the Islamic lunar calendar with prayers, reflection and charitable acts.

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Ramadan is a period of spiritual devotion marked by daily fasting from dawn to sunset, increased worship, and community gatherings.

Mosques across the Kingdom are preparing to receive worshippers for Taraweeh prayers, while authorities have finalized arrangements to ensure smooth services during the holy month.

Government entities and private institutions are also set to implement adjusted working hours in line with Ramadan schedules.

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BREAKING: Drama in Reps as Lawmakers Reverse on Electronic Results, Opposition Walks Out

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By Yusuf Danjuma Yunusa

The House of Representatives on Tuesday rescinded its earlier decision on Clause 60(3) of the Electoral Act amendment bill, adopting instead the version earlier passed by the Senate, which allows both electronic and manual transmission of election results.

The decision followed an emergency sitting and sparked protest from opposition lawmakers, who staged a walkout from the chamber while chanting, “APC, ole! APC, ole!” in open dissent.

The House had initially approved a stricter provision mandating compulsory electronic transmission of results from each polling unit to the Independent National Electoral Commission’s (INEC) Result Viewing (IREV) portal.

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The earlier version stipulated that: “The Presiding Officer shall electronically transmit the results from each polling unit to the IREV portal and such transmission shall be done after the prescribed Form EC8A has been signed and stamped by the Presiding Officer and/or countersigned by the candidates or polling agents where available at the polling unit.”

However, at Tuesday’s sitting, lawmakers reconsidered the clause and aligned with the Senate’s version, which introduces a caveat in the event of technical failure.

Under the adopted provision, while electronic transmission remains mandatory, it provides that where such transmission fails due to communication challenges, making it impossible to upload results electronically, the manually completed Form EC8A—duly signed and stamped by the Presiding Officer and countersigned by candidates or polling agents where available—shall remain the primary basis for collation and declaration of results.

The reversal has heightened political tension within the chamber, with opposition members expressing concern that the amendment could weaken safeguards around electronic transmission of election results.

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Health Ministry Enforces Federal Directive, Retires Directors with Eight Years’ Service

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By Yusuf Danjuma Yunusa

The Federal Ministry of Health has ordered an immediate disengagement of Directors who have spent at least eight years in the directorate cadre with immediate effect.

The directors affected include those in the ministry, federal hospitals, agencies, among others, according to a memo sighted by our correspondent in Abuja on Tuesday morning.

The Federal Government had, on Monday, directed all Ministries, Departments, and Agencies to enforce the eight-year tenure limit for directors and permanent secretaries, following a new deadline set through the Office of the Head of Civil Service of the Federation.

The memo announcing the enforcement of the order at the FMOH signed by the Director overseeing the Office of the Permanent Secretary at the Federal Ministry of Health, Tetshoma Dafeta, reads, “Further to the Eight (8)-Year Tenure Policy of the Federal Public Service, which mandates the compulsory retirement of Directors after eight years in that rank, as provided in the Revised Public Service Rules 2021(PSR 020909) copy attached, I am directed to remind you to take necessary action to ensure that all affected officers who have spent eight years as Directors, effective 31st December, 2025, are disengaged from Service immediately.

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“Accordingly, all Heads of Agencies and Parastatals are by this circular, to ensure that the affected staff hand over all official documents/possessions with immediate effect, their salaries are stopped by the IPPIS Unit and mandate the officers to refund to the treasury all emoluments paid after their effective date of disengagement.

“This is reiterated in a circular recently issued by the Office of the Head of the Civil Service of the Federation, Ref. No. HSCF/3065/Vol.I/225, dated 10″ February 2026. A copy is herewith attached for guidance, please.

“In addition, you are to forward the nominal roll of all directorate officers
(CONMESS 07/CONHESS 15/CONRAISS 15)

“Failure to adhere to paragraph 2 above shall be met with stiff sanctions.”

Recall that in July 2023, the former Head of Civil Service of the Federation, Folasade Yemi-Esan, announced the commencement of the revised Public Service Rules.

Speaking at a lecture at the State House, Abuja, to mark the 2023 Civil Service Week, Yemi-Esan stated that the revised PSR took effect from July 27, 2023.

The Head of Service issued a circular addressed to Permanent Secretaries, the Accountant-General of the Federation, the Auditor-General for the Federation, and heads of extra-ministerial departments, informing them of the revised rules.

“Following the approval of the revised Public Service Rules (PSR) by the Federal Executive Council (FEC) on September 27, 2021, and its subsequent unveiling during the public service lecture in commemoration of the 2023 Civil Service Week, the PSR has become operational with effect from July 27, 2023,” the circular read.

According to Section 020909 of the revised PSR, the tenure limit for permanent secretaries is four years, with a possible renewal based only on satisfactory performance.

The rules also stipulate that a director (GL 17) or their equivalent shall compulsorily retire after eight years in that position.

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