Petroleum dealers laud Tinubu for appointing technocrats into NNPCL

The Petroleum Dealers Association of Nigeria (PEDAN) has described the recent appointments made by President Bola Ahmed Tinubu at the Nigerian National Petroleum Company Limited (NNPCL) as commendable and timely.

In a statement signed by its National Secretary, Ibrahim Shehu Yahaya, the group noted that, given the company’s history of inefficiency and corruption while under government control, there was a pressing need for the injection of real technocrats to usher in a new era—especially now that the company operates as a private entity.

PEDAN noted that the reforms initiated in the industry through the Petroleum Industry Act (PIA) will be sustained and deepened with the competent team of technocrats assembled by the President.

The group added that Tinubu’s visionary leadership change at the NNPCL will allow the company to operate according to the principles of good corporate governance, in line with industry standards and international best practices.

“Transforming the Nigerian National Petroleum Corporation (NNPC) from a bureaucratic behemoth riddled with corruption and opaque accounting systems into a private limited company founded on transparency and accountability had been long overdue,” PEDAN said.

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“PEDAN therefore acknowledges, with delight, that the appointment of seasoned technocrats with extensive expertise and vast experience from the private sector is a welcome development. It is a step toward restructuring the affairs of the national oil company for optimal performance and the benefit of the Nigerian people.

“This visionary appointment represents a paradigm shift in resource management. It will foster the development of the industry and promote public-private sector collaboration,” the statement read in part.

“While wishing the new management of NNPCL a successful tenure, PEDAN hereby appeals to them to approach their assignments with patriotism, dedication, and a sense of responsibility.

“We also call on all industry players to provide the necessary support to the NNPCL management to ensure their success, as their success is a success for Nigeria and all Nigerians,” the statement concluded.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.