Prof. Wumi Iledare
Let me congratulate President Bola Tinubu for getting these accomplished professionals to serve on NNPCL Board as Directors. Finally, and perhaps for the first time, NNPCL has a Board that’s majorly apolitical with the appointments of these timber and caliber professionals.
Congratulations especially to the astute former SPENC Chair, Bayo Ojulari and SPE permanent friends with prowess, Dr. Bello Rabiu, Austin Avuru, Yusuf Usman, Dr. David and Babs Omotowa.
The professionals in the oil and gas sector must be delight and certainly routing for a successful tenure. Certainly with this Board, NNPCL shall rise again to its potential. It is indeed the Dawn of a New Era.
The first thing the NNPCL new Board needs to do is to rekindle, restructure, and rebrand the corporation along the intent of Petroleum Industry Act (PIA) 2021.
Here are some other suggestions for the new Board to consider. Firstly, is the dilemma of Naira for Crude deal with the local refineries
Secondly, is selling NNPCL shares to the public with a limit to what individual can buy and restrict corporate buyers.
Thirdly, divest some JV shares in divested International Oil Companies (IOC) assets
Fourth, rekindle, restructure, and rebound NNPC Limited along the intent of the PIA
Fifth, disavow agency mindset to please the execute branch instead if the federation and focus on the commercially mandate in the Law.
Sixth, promote economy of scale mentality and correct the apparent diseconomies of scale bounding the potential of NNPCL
Seventh and perhaps most important let go of prebendalism in recruitment and promotion to eliminate disgruntled employees with a transformational leadership mindset.
Bayo Oujulari, Austin Avuru, Yusuf Usman, Rabiu Bello, David Ige, Babs Omotowa are professionals who I know personally. I pray that Nigeria does not get them. It is like having 6 GCEOs with Ige, Rabiu, Usman, Babs, Avuru on the Board with Bayo Ojulari.
With mutuality of interests and respect, decision making is likely than not to be seamlessly made with transformational leadership mindset.
A new era for NNPCL. For NNPCL, this apolitical Board with a good understanding of what it takes to have commercial mentality. I know in person 6 of the members who understands the working of the oil and gas business in and out.
The mechanism to maximize returns on investment is not foreign to their psyche. They have no reasons to not succeed, cetris paribus.
They have full endorsement from PEWI for whatever its worth.
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