The President, Major General Muhammadu Buhari (retd.), on Wednesday, sued for calm from all parties involved in the board chairmanship tussle of the Nigerian National Petroleum Company Limited, saying due process would take its course.
This comes barely 24 hours after the Federal High Court in Abuja, reinstated Senator Ifeanyi Ararume as the non-executive Chairman of the NNPCL and awarded him N5bn in damages.
Buhari had January last year appointed the Board and Management of the NNPCL, replacing Ararume with Margery Okadigbo, widow of the late Chuba Okadigbo, who was Buhari’s running mate in the 2003 presidential election.
The President also named Mele Kyari as the Chief Executive Officer; and Umar Ajiya as Chief Financial Officer.
The appointment came barely five months after Buhari signed into law the Petroleum Industry Act (2021).
In September 2021 the President had written to the Senate on the administrative structure amendments to the Petroleum Industry Act, which included the appointment of Non-Executive Board Members, removal of the Ministries of Petroleum and Finance from the board of the two new institutions, and appointment of executive directors.
The appointments took effect from the date of the incorporation of the NNPC Limited on September 29, 2021.
However, Ararume’s replacement set off a long legal battle that culminated in his favour on Tuesday.
The former NNPC chairman had sued Buhari, praying the court to declare his removal as the NNPCL chief illegal, unlawful and unconstitutional and to label it as a total breach of Companies and Allied Matters Act, under which the NNPCL was incorporated.
Ararume also prayed the court to issue an order to return him to office and also demanded N100bn as compensation for the damages he suffered nationally and internationally.
But reacting to the development, the President, in a statement by his media aide, Femi Adesina, on Wednesday, said, “The administration respects the rule of law and nothing will be done outside it to resolve the matter.”
“Buhari has taken due notice of the judgment by the Federal High Court, Abuja, restoring Senator Ifeanyi Ararume as the non-executive Chairman of Nigeria National Petroleum Company Limited.
“While the Office of the Attorney-General of the Federation and Minister for Justice is yet to receive a formal copy of the ruling, the President affirms that due judicial process will be followed, and the NNPCL has already taken steps to go on appeal.
“The administration respects the rule of law, and nothing will be done outside it to resolve the matter, the President says. He sues for calm from all sides involved.”
