President Buhari approves new boards for NLNG, BGT

President Buhari approves new boards for NLNG, BGT

- President Muhammadu Buhari has made new appointments in the petroleum sector

- The president approved the reconstitution of federal government’s representatives on the boards of NLNG and BGT

- The minister of state for petroleum resources, Timipre Sylva, disclosed this in a statement on Monday, July 13

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President Muhammadu Buhari has approved the reconstitution of federal government’s representatives on the boards of Nigeria Liquefied Natural Gas (NLNG) and Bonny Gas Transport Limited (BGT).

The minister of state for petroleum resources, Timipre Sylva, disclosed this in a statement on Monday, July 13.

The minister said the current boards’ members “had been on the respective boards since 2005 and it has become imperative to inject fresh ideas into the governance of the companies.’’

President Buhari approves new boards for NLNG, BGT

President Buhari has approved new boards for NLNG and BGT. Photo credit: Presidency
Source: Twitter

Sylva gave the names of newly reconstituted NLNG board members as Dr Edmund Daukaru (chairman), Engr. Henry Ikem-Obih (member), Dr Rabiu Sulaiman (member), GMD, NNPC, Mallam Mele Kyari (member), and permanent secretary, ministry of petroleum resources, Bitrus Nabasu (member).

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The new members on the board of BGT, according to the minister, are Dr Edmund Daukaru (president), Doyin Akinyanju (member), Abdul Abba G (member), GMD, NNPC, Mallam Mele Kyari (member) and permanent secretary ministry of petroleum resources Bitru Nabasu (member).

The NLNG is a liquefied natural gas (LNG)-producing company and a liquefied natural gas plant on Bonny Island, Nigeria.

In May 2020, NLNG signed the Engineering, Procurement and Construction (EPC) contracts for its Train 7 Project with the SCD JV Consortium.

The initiative is expected to increase the capacity of NLNG’s current six-train plant by 35 per cent, from the extant 22 million tons per annum to 30.

“NNPC and the other shareholders — Shell, Total and Eni — are proud to be a part of this exceptional Nigerian brand that stands out in the global market,” GMD of NNPC, Mallam Mele Kyari said in reaction to the project.

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According to him, it is for this reason that Pres­ident Buhari gave instructions that NNPC, as a shareholder, must do everything pos­sible to support all other shareholders.

He said that the pres­ident also instructed the NLNG’s management to secure the much-needed public confidence from all critical stakeholders, es­pecially the critical agen­cies of the federal gov­ernment and international investors.

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Meanwhile, the federal government has explained its stance regarding the knotty issue of petroleum products deregulation.

Sylva in a statement he personally signed on Wednesday, July 8 explained that the federal government concluded that it was unrealistic to continue with the burden of subsidizing PMS to the tune of trillions of naira every year.

According to him, the decision was taken after a thorough examination of the economics of subsidising PMS for domestic consumption.

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