President Tinubu also said that conducts suggesting a sense of entitlement would not be tolerated, warning that the Board could be dissolved without prior notice to members over non-performance.
“The challenge is corporate governance. Yes, we will improve the security situation. We are working very hard. Sincerely, the Chief Executive Officer, Kyari, is doing very well, and doing all that I know.
“But you could be suddenly dissolved if there is no sustained excellence in performance. It is my honour to inaugurate this Board, which has people of great integrity. I am honoured that we are doing this. I recognize all of you,’’ he said.
President Tinubu 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 minimise 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, Chief Pius Akinyelure, commended the President for the removal of petrol subsidy, noting that the nation would have drowned in debt, but for his decisiveness.
“Our focus is to increase production. We must address the problem of stealing and pipeline vandalisation in the Niger Delta. We are aware of the efforts in the past, but we will do more,’’ he said.
