The Petroleum Dealers Association of Nigeria (PEDAN) has commended President Bola Ahmed Tinubu for the recent appointment of technocrats to lead the Nigerian National Petroleum Company Limited (NNPCL), describing the move as timely and transformative.

In a statement signed by its National Secretary, Ibrahim Shehu Yahaya, PEDAN praised the appointment of seasoned professionals with extensive private-sector expertise, noting that it marks a significant step toward addressing NNPCL’s historical challenges of inefficiency and corruption.

The group highlighted the importance of these appointments, particularly as NNPCL now operates as a private entity following its transition from the Nigerian National Petroleum Corporation (NNPC).

“Transforming the 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,” the statement read.

“PEDAN acknowledges, with delight, that the appointment of seasoned technocrats is a welcome development, restructuring the national oil company for optimal performance and the benefit of the Nigerian people.”

PEDAN emphasized that the appointments reflect a paradigm shift in resource management, fostering industry development and public-private sector collaboration.

The group also expressed confidence that the reforms introduced through the Petroleum Industry Act (PIA) will be sustained and deepened under the new leadership, aligning NNPCL with global best practices and principles of good corporate governance.

While wishing the new management a successful tenure, PEDAN urged them to approach their roles with patriotism, dedication, and responsibility.

The group also called on industry stakeholders to support the NNPCL leadership to ensure their success, stating, “Their success is a success for Nigeria and all Nigerians.”